According to Farside data, following Donald Trump’s executive order to create strategic reserves of Bitcoin in the US, Bitcoin Exchange-Traded Funds (ETFs) witnessed a net outflow of around $370 million on March 7. This capital outflow indicates institutional investors have become cautious about exposure to Bitcoin. Trump’s executive order, which established national Bitcoin reserves but did not require the government to buy Bitcoin, disappointed traders. As a result of this disappointment, the price of Bitcoin also decreased in the market. Experts believe this event will have a positive long-term impact as it encourages other countries and financial institutions to buy Bitcoin. Austin Arnold, co-founder of Altcoin Daily, described this sale as a simple event of ‘buy the rumor, sell the news.’
