Bitcoin traders have tempered their bullish outlook after the Trump administration’s executive order focused on a broader digital asset stockpile rather than a Bitcoin-specific Strategic Reserve, says Derive founder Nick Forster.
On Jan. 24, 83.3% of Bitcoin options contracts were calls sold, indicating expectations of stagnant or declining prices. Bitcoin is currently trading at $104,621, with analysts citing the absence of a dedicated BTC reserve as a factor limiting short-term upside.
Trump’s order to evaluate a national crypto strategy sparked disappointment among Bitcoin investors, as Ripple pushes for a multi-coin reserve instead.
Source: Cointelegraph
