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Bitcoin, XRP, Dogecoin Rebound After New Cryptocurrency Strategic Reserve Bill Makes Its Way to Congress

Bitcoin jumped 7.69% to $82,733.64 after the introduction of the new BTC reserve bill.

XRP and Dogecoin also recovered, showing significant gains.

Analysts suggest that BTC could rise to $92,000 if it breaks through a key resistance zone.

Bitcoin and other major cryptocurrencies have surged after the U.S. House of Representatives introduced a bill to establish a Bitcoin Strategic Reserve. The bill, known as the Bitcoin Act of 2025, was introduced by Representative Nick Begich (R-AK) with the goal of creating a reserve without using taxpayer funding.

Notably, Senator Cynthia Lummis also reintroduced the BITCOIN Act on Tuesday, which now has more co-sponsors in the Senate than before.

Following the news, Bitcoin jumped 7.69% to $82,733.64, briefly breaking above $83,000. It is now trading at $82,316, up 2.5% over the past day. The announcement also raised Bitcoin's market dominance to 61.3%, its highest in a year.

In parallel, Ethereum rose 5.57% to $1,910.35, rebounding from below $1,800. XRP is currently trading at $2.22, up 5% today after initially falling to $1.92. Dogecoin also rose 10.04% to $0.1652.

Meanwhile, several lesser-known altcoins also saw strong gains during the period. Kaspa jumped 27.07% to $0.4805, while Bittensor and Celestia jumped 20.60% and 19.59%, respectively.