Bitcoin (BTC) experienced a 4% rebound on March 7 as markets moved past initial disappointment regarding the US Strategic Bitcoin Reserve. According to data from Cointelegraph Markets Pro and TradingView, BTC/USD recovered from local lows of $84,713 on Bitstamp. This recovery followed an executive order signed by US President Donald Trump, establishing a reserve that will consist solely of confiscated coins, with no new BTC acquisitions planned. David Sacks, the White House crypto czar, highlighted that premature sales of bitcoin have already cost taxpayers over $17 billion in lost value. He added that the Secretaries of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional bitcoin without incremental costs to taxpayers. Despite initial market declines due to unmet expectations, the subsequent Asia trading session showed renewed strength ahead of the White House Crypto Summit. Industry commentators noted the positive overall stance of the US government on crypto. Analyst BitQuant emphasized the importance of distinguishing between bullish and non-bullish news, while Charles Edwards of Capriole Investments described the market as excessively short at the sub-$85,000 lows. Additional volatility catalysts included US employment data and a speech by Federal Reserve Chair Jerome Powell. The latest data from CME Group’s FedWatch Tool indicated 11% odds of an interest rate cut at the Fed’s March meeting, with higher odds for May. This article does not contain investment advice or recommendations. Readers should conduct their own research when making decisions. — news from Cointelegraph