Opinion: Trump's Bitcoin strategic reserve executive order falls short of expectations, leading traders to "sell the news."

ChainCatcher news, according to The Block, regarding the market's decline following Trump's Bitcoin strategic reserve executive order, Presto Research's research director Peter Chung stated, "BTC did not exhibit a parabolic response, indicating that there is a certain amount of 'buy the rumor, sell the news' activity in the market. The news has just been released for an hour, so the market may fluctuate in the coming hours as it digests various conflicting forces."

LVRG Research director Nick Ruck pointed out that traders "feel disappointed" because the Bitcoin reserve announcement "is not as optimistic as they hoped," since the funds for the reserves will come from Bitcoin obtained through criminal or civil asset seizures, rather than Bitcoin purchased by the government. This statement became a sell-off news event as the discrepancy in expectations reduced the buying pressure anticipated in the cryptocurrency market.

Meanwhile, Presto's Chung noted that it is worth paying attention to whether the U.S. will mention how to acquire more Bitcoin in a budget-neutral manner, as well as more details on how to handle non-BTC assets.