Analysis: Due to Trump's unclear Bitcoin strategic reserve plan, traders believe that the short-term rise of BTC is limited
Odaily Planet Daily reports that Nick Forster, the founder of on-chain options protocol Derive, stated in an analyst report on January 25th that the executive order from Trump's administration was to assess digital asset reserves rather than focusing on strategic Bitcoin reserves. This has suppressed short-term bullish expectations for Bitcoin as "the market believes there is limited room for this asset to rise in the short term, possibly due to a lack of specific BTC reserve announcements."
Forster pointed out that on January 24th, 83.3% of Bitcoin option contracts on the Derive platform were "call options sold," implying an expectation for stable or falling Bitcoin prices. He said: "If no practical measures such as establishing national reserves are taken, the market will not buy it."
Previously reported news revealed that U.S President Trump signed an executive order to establish a Presidential Digital Asset Market Working Group aimed at strengthening America's leadership position in digital finance. The task of this working group is to develop a federal regulatory framework for managing digital assets (including stablecoins) and evaluate creating strategic national digital asset reserves.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The first major "exam" after the Cook era! Morgan Stanley: Apple's (AAPL.US) autumn launch event is the most important in ten years; the first foldable iPhone may spark a new wave of growth
Morgan Stanley analysts stated that Apple's upcoming "Surprise and Shine" autumn product launch event on September 9 may become the company's most important product release in nearly a decade.
For the first time in over a year, the open interest share of altcoins has surpassed that of bitcoin.
OPEC+ agrees to keep oil output policy unchanged for October
US military strikes Iranian oil tanker, triggering geopolitical risks as Brent crude nears $97 mark
Following the US military's attack on Iranian oil tankers and Iran's announcement of new restricted navigation zones outside the Strait of Hormuz, market concerns over prolonged disruptions in key energy transport routes have intensified, leading to a sharp rise in international oil prices.
Crypto prices
More
