According to a market analyst, the lack of clear actions from Bitcoin’s strategic reserves has reduced traders’ optimism about the short-term trend of this digital currency. Nick Forster, the founder of Derive Options Platform, stated that on February 4th, 83.3% of Bitcoin options contracts were of the Put Option type. This indicates that traders expect Bitcoin’s price to remain stable or decrease. Recent actions by Donald Trump, the President of the United States, in signing an executive order to review national digital reserves instead of specifically Bitcoin reserves, have disappointed the Bitcoin community. According to Forster, the market has been waiting for practical actions like establishing national strategic reserves instead of vague promises. Bitcoin is currently trading at $105,100, which is 3.8% lower than its recent peak of $109,000.
