This week, the encryption market, led by Bitcoin (BTC), received positive news and deterred it accordingly. However, the reaction was short -term, and the entire field returned to stagnation and negative paths.
weekly a report From the market analysis platform, Cryptoquant revealed that the real demand for BTC is still in a shrink area, while the clear demand for Bitcoin continued to decrease after the acceleration period seen in November 2024.
Trump-Nabib
Earlier this week, the market witnessed what Cryptoquant described entitled “Trump-Nabib”. This indicates that traders sell their digital assets significantly after a crowd that led to a declaration on a strategic encoding reserve for the United States.
On March 2, President Trump revealed that he had directed the presidential working group to move forward in creating a strategic digital assets reserve. He said that the reserve will include BTC, Eter (ETH), Solana (SOL), Ripple (XRP) and Cardano (ADA), which enhances his promise to make the United States the capital of encryption in the world.
After the announcement, the prices of the encryption assets that were chosen for the reserve increased. BTC increased by 14 %, ETH by 20 %, XRP by 40 %, Sol with more than 20 %, and ADA by at least 60 %.
By Monday morning, encryption prices returned to pre -execution levels, which resulted in the scanning of all registered gains during the assembly. While prices fell, merchants rushed to empty their assets on stock exchanges. The number of BTC flowing to trading platforms per hour increased from 500-1000 to 6739 on March 3, while ETH flows rose to about 300,000.
On the other hand, about two billion XRP poured into the encryption trading platforms on Sunday and Monday, when currency flows at 193 million. Cryptoquant found that most of these flows came from the whales that carry out transactions of one million++ XRP.
Cryptology records deeper corrections
According to Cryptoquant, high flows to encryption trading platforms indicated that merchants were selling their assets to take advantage of the sudden price height. Currently, BTC, ETH, Sol, XRP and Ada prices have decreased by at least 3 % per day, for all data from CoinMarketCAP.
Interestingly, these encrypted currencies recorded deeper corrections on March 6 after Trump signed an executive order that creates the strategic bitcoin reserves and digital asset stocks. Reserves that will consist of encrypted currencies have been created in criminal or civil procedures. The United States government will not sell its encrypted currencies and does not get any additional assets that exceed those obtained through confiscation procedures.
However, Cryptoquant insists that BTC needs a high demand for a continuous gathering experience in its price, despite the economic decisions taken by the US government.
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