In response to the market's decline following the news of Trump's bitcoin strategic reserve decree, Peter Chung, head of research at Presto Research, said: "BTC has not shown a parabolic reaction, indicating that there is a certain amount of" rumor buy, news sell "type activity in the market. The news has only been released for an hour, so the market is likely to fluctuate in the next few hours as it digests various conflicting forces."
Nick Ruck, head of LVRG Research, noted that traders were "disappointed" that the reserve announcement was "not as optimistic as they had hoped" because the reserve would be funded by bitcoins obtained from criminal or civil asset forfeiture, rather than government-purchased bitcoins. The announcement became a sell-off news event as the divergence in expectations reduced the buying pressure expected by the cryptocurrency market.
At the same time, Presto's Chung pointed out that it is worth watching whether the United States will mention how to acquire more bitcoin in a budget-neutral manner, as well as more details on how to handle non-BTC assets.
Analysis: Traders were disappointed that Trump's bitcoin strategic reserve decree fell short of expectations
2025-03-07 03:52:10
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