The feasibility of Donald Trump’s ambition to create a national reserve of Bitcoin is still being studied by officials in the administration, White House crypto czar David Sacks said as he met with lawmakers to advance the new president’s policies on digital assets.

Liquidations of highly leveraged crypto positions may have amplified the sell-off over the weekend and into Monday, crypto sources told BI

Bitcoin shot up from the $91,000 price level in the past day and claimed a high of $102,000 while altcoins also soared.

Buying the dip after a massive liquidation flush and higher demand for stablecoin could fuel growth in bitcoin and the broader crypto market, some say.

President Donald Trump signed an executive order on Monday to create the first-ever U.S. Bitcoin rallied to near $100,000, boosted by speculation that the currency may be among the assets included in the fund.