Bitcoin’s Reversal Momentum Is Becoming Evident, and It May Return to $100,000 by Year-End

The U.S. Department of Energy has initiated the procedure for releasing oil from the Strategic Petroleum Reserve. Although on paper this creates an expectation of supply, because there is a clear time lag between the application deadline and physical delivery, and the key economic data reflect activity from an earlier period, the announcement in the short term acts more on psychology than as an immediate change to supply and demand fundamentals. At the same time, Bitcoin has shown a significant rebound after experiencing a deep correction.

The U.S. Department of Energy is allowing up to 40 million barrels of crude oil to be withdrawn from the reserve. This measure is intended to provide a potential source of oil supply for later this year, but as of now, no batch of crude oil has actually been allocated. The opening of the application channel marks a new implementation phase for the previously announced plan to release 172 million barrels of crude oil, of which 40 million barrels is the upper limit of the total volume proposed for release in this round, rather than the physical quantity that has already entered the market.