Bitcoin Surges Past $92K on Trump's Strategic Reserve Plan

Bitcoin briefly surged above $92,000 on Monday, driven by the announcement of U.S. President Donald Trump's strategic reserve plan. The dominant digital currency had previously plunged from record highs, briefly touching $92,000 on Sunday afternoon.

The price rally encountered resistance at $97,000 and has since retreated to the $82,000-$92,000 range, confirming previous technical analysis. The UTXO Realized Price Distribution (URPD) metric suggests that many Bitcoin holders acquired positions above $90,000, indicating a strong support level at this price point.

Despite recent volatility, Bitcoin's fundamentals remain robust. The crypto market has experienced significant liquidations, with over $1.09 billion in crypto liquidations, including more than $400 million in BTC alone. However, this has not deterred investors, as Bitcoin briefly surged to $92,000, shaking up the market and setting the stage for a new narrative in the industry.

As U.S.-Canada trade war expectations ease, markets have lifted, and Bitcoin's rally has been supported by this positive sentiment. While the price has retreated from its recent highs, the $82,000-$92,000 range has been confirmed as a key support level, indicating a potential upward trend in the near future.