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Analysis: Traders are disappointed that Trump's Bitcoin reserve strategy executive order did not meet expectations

Analysis: Traders are disappointed that Trump's Bitcoin reserve strategy executive order did not meet expectations

Bitget2025/03/07 04:15

Golden Finance reports that in response to the market's decline following news of Trump's Bitcoin strategic reserve order, Presto Research Director Peter Chung said, "BTC did not show a parabolic reaction, indicating that there is a certain amount of 'buy on rumor, sell on news' type activity in the market. The news was only released an hour ago, so the market may fluctuate in the next few hours as it digests various conflicting forces."

LVRG Research Director Nick Ruck pointed out that traders are "disappointed" because the Bitcoin reserve announcement "is not as optimistic as they hoped," since funds for reserves will come from Bitcoins obtained through criminal or civil asset forfeiture rather than government purchases. This statement became a sell-off news event because anticipated differences reduced expected buying pressure in the cryptocurrency market. Meanwhile, Presto's Chung noted that it is worth paying attention to whether America will mention how to acquire more Bitcoin in a budget-neutral way and how to handle more details about non-BTC assets.

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