#BTC #pricedown #why need to know why the price is down
Bitcoin's drawdown follows US President Donald Trump's announcement for a Strategic Bitcoin Reserve. More outflows from spot Bitcoin ETFs. Bitcoin price must hold above a key support area to avoid a deeper correction.7 Mar 2025
One major catalyst for Bitcoin’s recent slump is the market’s reaction to an executive order signed by President Donald Trump last week. The order established a U.S. strategic Bitcoin reserve, utilizing cryptocurrencies seized in criminal and civil forfeiture cases.
While this move initially sparked optimism, the lack of a bold commitment to purchase significant amounts of Bitcoin—such as 100,000 or 200,000 coins—left investors underwhelmed. Prices slid as traders expressed disappointment over what they perceived as a conservative approach.