Leading cryptocurrencies moved sideways on Monday as high-profile Bitcoin sell-offs were offset by growing optimism for a Strategic Bitcoin Reserve.

Bitcoin Dips And Then Rips

Bitcoin dipped to the mid-$61,000 range in early trading after Strategy Inc. (NASDAQ:MSTR) reported selling 3,588 BTC for roughly $216 million last week.

Sentiment improved following Trump’s reaffirmation of his pro-cryptocurrency policies during an Oval Office interaction with reporters. Later in the day, Bloomberg cited the White House saying the Trump administration “continues to evaluate the best structure” for a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.

Ethereum oscillated between…