Bitcoin ETF sales recently not operated by the recession Trump’s Crypto Reserve Plan, but not to transfer the dynamics of the market.
Spot bitcoin exchange-traded funds saw their biggest outfits since the launch in January 2024. For now, sales pressure may be reduced, although not necessarily due to the statement on a strategic crypto reserve of President Donald Trump, but seems to suggest that hedge funds suggest unwanted base trades, matrixport analysts.
In X post On March 3, analysts suggested that the hedge funds aligned the base trades aligned with $ 8 billion fall in open interest since December 2024 FOMC meeting, aligning with accounting for more than 20% of the total ETF inflow.
“Sale pressure may be associated with February Futures Expiry, which is now behind us. This overhang is removed, ETFs selling by hedge funds can be easily allowed, allowing them to revaluate to spread arbitration at the end of mediation. ,
Matrixport
Although it is not clear how long it would have to stop selling pressure, Bitcoin and Altcoin quickly increased after confirming their commitment to make Trump to America “The Crypto capital of the world.” His new executive order directs the officers to establish a National Crypto Reserve, including bitcoin (BTC), atherium (ath), and – surprise of many people – XRP (XRP), Solana (Sol), and Cardano (ADA).
As the bitcoin increased by 8%, breaking $ 93,000, the Atherium chased with a jump of 11%. Nevertheless, these advantages were modest than the increase of 66% of the cardano, while Solan and XRP increased by 20% and 28% respectively. Despite the rally, Crypto Fear and Greed Index live in the “fear” area on 33, as the Crypto.NUS reported earlier.
