Haider Rafique, the global chief marketing officer at crypto exchange OKX, expressed disappointment in the lack of immediate buying pressure from the formalization of a Bitcoin reserve. “While establishing a Bitcoin reserve is a significant milestone, it does not create immediate buying pressure, disappointing those expecting aggressive accumulation,” Rafique stated.
Many in the crypto community had anticipated that Trump’s proposal would involve substantial government purchases of Bitcoin and other cryptocurrencies, potentially stimulating demand and boosting prices. However, investors were disappointed when it was revealed that the government would refrain from making additional crypto purchases and would only retain cryptocurrencies seized from illegal activities.
Since the Federal Reserve announced in December that it would not implement as many interest rate cuts in 2025 as previously anticipated, the crypto market has lost approximately 25% of its total market cap. The optimistic outlook that many had following Trump’s election in November has quickly turned sour, as macroeconomic factors weigh heavily on the market.
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