Bitcoin ETF selling cools off, but not thanks to Trump’s strategic crypto reserve, analysts say

The recent slowdown in the sale of Bitcoin ETF is not motivated by Trump’s crypto reserve plan but rather market dynamics.

Locate the bitcoin Fund negotiated in exchange I have seen their biggest outings since their launch in January 2024. For the moment, the sales pressure can be relaxed, but not necessarily due to the president Donald TrumpThe declaration on a strategic cryptography reserve, but apparently because the hedge funds took place, the Matrixport analysts suggest.

In a X post On March 3, analysts suggested that the hedge funds probably triggered the sale in distress the basic trades, which aligned with the drop of $ 8 billion in the open interest of the CME from the FOMC meeting in December 2024, representing more than 20% of the Total FNB entries.

“The sales pressure may have been linked to the end of February, which is now behind us. With this deleted overhang, the sale of ETFs by hedge funds could facilitate relief, allowing them to reassess the arbitration spreats before the end of March. »»

Matrix

Although it is not clear how long the break in sales pressure will last, Bitcoin and Altcoins quickly jumped after Trump reaffirmed his commitment to the United States “the world capital of cryptography”. His new decree orders managers to establish a national cryptography reserve, including Bitcoin (BTC), Ethereum (Ethn), and – to the surprise of many people – XRP (Xrp), Solana (GROUND), and Cardano (ADA).

While Bitcoin increased by 8%, breaking $ 93,000, Ethereum followed a leap of 11%. However, these gains were modest, but compared to the overvoltage of 66% of Cardano, while Solana and XRP gained 20% and 28% respectively. Despite the rally, the Crypto Fear & Greed index remains in “fear” territory at 33 years old, like crypto.News reported earlier.