BTCUSD Today, January 20: White House Denies Sale Rumor, Reserve Delayed
Sell bitcoin or sit tight? Canadian investors woke to calming signals today. The top White House crypto advisor denied that seized Samourai Wallet coins were sold and said they will be held for a U.S. Bitcoin reserve, though legal issues are delaying launch. With BTCUSD near US$93,633.53, fears of forced supply look overstated, yet policy risk persists. We outline price levels, indicators, and a simple, Canada-focused plan to buy or sell bitcoin with discipline while uncertainty remains.
Canada market takeaways today
Patrick Witt, the White House crypto advisor, said bitcoins from the Samourai Wallet seizure were not sold and will be earmarked for a U.S. Bitcoin reserve. That trims near-term overhang from potential government supply, reducing pressure to sell bitcoin on rumor. For Canadian traders, it supports a more orderly tape on local platforms, though liquidity can still thin on headlines. Position sizing should reflect that backdrop.
Witt flagged “obscure” legal issues holding up the reserve’s formal debut, including process and custody considerations. A clear rulebook could take time, keeping policy risk elevated. Until there is a timeline, we expect choppy sentiment around regulatory news. For Canadians deciding whether to sell bitcoin, treat policy updates as catalysts and plan entries or exits with limit orders instead of market orders.
Tighter spreads are possible if U.S. selling fears fade, but funding rates and CAD conversions can still move quickly on event risk. Spot Bitcoin ETFs listed in Toronto often mirror global flows and may react to policy headlines. If you trade ETFs rather than coins, align orders with global sessions and avoid chasing gaps when you buy or sell bitcoin.
Price and technical picture for BTCUSD
BTC trades near US$93,633.53, after an intraday low of 93,559.78 and high of 95,485.00. Price sits above the 50-day average at 90,254.473, but below the 200-day at 105,816.03655. Bollinger Bands span 84,208.69 to 93,209.41 around a 88,709.05 middle. Respect those bands when you buy or sell bitcoin, as mean reversion often follows quick tag-and-reject moves.
RSI at 48.91 is neutral. MACD at -245.82 vs signal -967.46 yields a positive histogram of 721.64, signaling improving momentum. ADX at 25.89 indicates a steady trend, not a blow-off. Together, these suggest range trading with upward bias while above the 50-day average. If you sell bitcoin, target strength near recent highs and manage exits around prior resistance.
ATR at 3,252.65 implies typical daily swings near US$3,250. Keltner channels center on 90,105.32, with upper 96,610.62 and lower 83,600.01. Williams %R at -54.69 and MFI at 47.98 are neutral. Size positions for 2 to 3 percent daily moves and use stops beyond ATR. Avoid impulsive decisions to sell bitcoin inside whipsaw ranges without a predefined risk cap.
Policy backdrop: U.S. Bitcoin reserve and Samourai case
Witt said coins forfeited in the Samourai Wallet seizure were not sold and will stay within a strategic reserve framework. This addresses rumors of imminent liquidation and helps stabilize sentiment. See coverage from The Block for details on the statement and context around the reserve plan source.
According to fresh reporting, “obscure” legal issues are delaying the formal launch of the U.S. Bitcoin reserve. These may involve custody, procurement, or asset management rules that require clarity before proceeding. The lack of a timeline keeps policy risk alive. Yahoo Finance summarizes the holdup and market reaction source.
Policy signals shape liquidity and volatility that flow into Canadian markets. A credible reserve that does not periodically sell bitcoin into rallies could support higher confidence. But delays and legal ambiguity can still spark sharp moves. We suggest Canadians anchor decisions to technical levels and preplanned entries and exits rather than headlines when choosing to hold or sell bitcoin.
Strategy for Canadians: when to sell or add
Plan trades around structure. Support sits near the 50-day average at 90,254. Resistance is the recent high at 95,485 and the 200-day at 105,816. Consider scaling in on pullbacks toward support and trimming into strength near resistance. If you sell bitcoin intraday, use ATR-based stops and avoid illiquid hours when spreads widen on Canadian platforms.
For diversified Canadian portfolios, a small allocation to Bitcoin can be managed with dollar-cost averaging and periodic rebalancing. Model forecasts here point to US$95,894 over a year and US$125,517 over a quarter, but treat them as scenarios, not promises. Rebalance bands help decide when to buy or sell bitcoin without emotional trading during policy headlines.
Keep a written plan that defines why you buy or sell bitcoin, the time frame, and the maximum loss per trade. Track adjusted cost base for taxes. Capital gains apply in Canada. Spot Bitcoin ETFs are eligible for registered accounts, which can simplify reporting. Always document deposits, withdrawals, and exchange rates for accurate records.
Final Thoughts
The White House crypto advisor’s denial of a Samourai-linked sale removes a key near-term supply fear, while legal delays for the U.S. Bitcoin reserve keep policy risk in play. For Canadians, that mix argues for a rules-first approach. Let price levels guide actions and predefine entries, trims, and risk. Trade around the 50-day and recent highs, size for typical ATR moves, and use limit orders on local platforms. Rebalance rather than react, and document every trade. If you choose to sell bitcoin, do it into strength with clear stops and an allocation plan you can stick to across headline noise.
FAQs
Should Canadians sell bitcoin today after the White House update?
Not urgently. The advisor’s denial of a Samourai-linked sale reduces immediate supply pressure, though policy risk remains. Trade the levels. Consider trimming strength near resistance and adding on pullbacks to support, using ATR-based stops. If you do sell bitcoin, do it into strength with predefined targets and risk limits.
What is the U.S. Bitcoin reserve and why is it delayed?
It is a proposed strategic holding of Bitcoin by U.S. authorities. The top White House crypto advisor cited “obscure” legal issues delaying its formal launch, likely tied to custody and process. Until a framework is finalized, policy uncertainty can drive volatility, so plan entries and exits before you buy or sell bitcoin.
Does the Samourai Wallet seizure change Bitcoin’s supply outlook?
Near term, no. The advisor stated seized coins were not sold and will be held within the strategic reserve framework. That removes expected forced selling, helping stabilize sentiment. It does not eliminate policy risk, so use technical levels and position sizing to manage trades, especially if you plan to sell bitcoin on rallies.
How should Canadian investors manage crypto risk and taxes?
Use small, sized positions, ATR-based stops, and written rules for when to buy or sell bitcoin. Track adjusted cost base, trade dates, and exchange rates. Capital gains apply. Consider using spot Bitcoin ETFs in registered accounts for simpler reporting. Keep records for every transfer and conversion to support accurate filings.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
