COINOTAG News reports that on January 25th, within an analysis shared by Nick Forster, founder of Derive, insights emerged regarding the Trump administration’s recent executive order. Rather than prioritizing a strategic reserve of Bitcoin, the focus has shifted towards evaluating digital asset reserves. This revelation has led market analysts to revise their short-term projections, suggesting that the potential for Bitcoin’s price to rally is currently subdued. Forster remarked that the absence of a definitive BTC reserve announcement has contributed to this sentiment. Furthermore, data from January 24th revealed that a considerable 83.3% of Bitcoin options traded on the Derive platform involved “sold call options,” underscoring a market expectation for Bitcoin’s stability or a potential decline. Forster concluded that without significant policy advancements, including a clearly defined national reserve, investor confidence might remain hesitant.
Source: https://en.coinotag.com/breakingnews/bitcoins-short-term-outlook-dims-as-analyst-highlights-lack-of-national-reserve-discussions/