Bitcoin price falls by 4.7 % to $ 88,000-market reacts disappointed to Trump's strategic Bitcoin reserve

<p> <strong> Bitcoin price falls by 4.7 % to $ 88,000-market reacts disappointed to Trump's strategic Bitcoin reserve </strong> </p>

Bitcoin course falls by 4.7 % despite the strategic bitcoin reserve

In the past few hours, the Bitcoin price has experienced a decline of 4.7 % and fell to $ 88,000. This downward trend came as a surprise, since many investors had expected a price increase, especially after the signing of a implementing regulations by President Donald Trump to create a strategic bitcoin reserve. The reaction of the market to this message was negative because the lack of new purchases by the government did not meet the expectations of investors.

The newly set up Bitcoin reserve is filled with around 200,000 BTC, worth around $ 17 billion, which come from criminal conflicts. This means that the reserve is only dependent on existing stocks and no additional state purchases will be made, which dampened investors' hopes to increase demand and price increases.

hard setback on the markets

The disappointment about the lack of "new liquidity" not only burdened Bitcoin, but also the entire cryptom market, which lost by 5.8 % of market capitalization. According to the data from Coinglass, long positions worth $ 403 million were liquidated in a short time. This means that many investors became pessimistic about Bitcoin price development and quickly sold their positions. In the past 30 days, dealers have opened over $ 10.4 billion in short positions, while only $ 4.24 billion were invested in long positions.

Technical analysis: Test of the 200-day average line

The Bitcoin Prize now tests the support of $ 83,000, which corresponds to the 200-day simple Moving Average (SMA). A break of this support could lead to a decline in the price to $ 72,000. At the same time, however, there is hope that there could be stabilization because a setback on the 200-day SMA signals.

The relative strength index (RSI) is currently 43.58 and shows a light bear tendency, but approaches the oversold area. Nevertheless, the declining trading volume could indicate a weaker sales pressure, which could lead to consolidation before a potential outbreak.

FAZIT

The introduction of the strategic Bitcoin reserve comes at a crucial moment, since the cryptocurrency market is heading for a crypto summit in the White House, which could possibly bring regulatory clarity and attract institutional investors. Nevertheless, the Bitcoin price is in a tension between hype and market room, and retailers actively observe whether this development is an obstacle or a turning point for Bitcoin.