Probably This Is Why The Market Is Red

Hey how's it going everyone. I believe you've all seen the market and it's red everywhere. From the leaders to the small meme coins, everyone is losing value over the last couple days and today it has been a significant downtrend and it really got me thinking what happened this time? So I started looking around and I stumbled upon some news which basically said that the strategic Bitcoin reserve wasn't what we thought it was, or at least I thought it was. ---  [Source](https://pixabay.com/illustrations/crypto-bitcoin-mining-money-7678815/) --- A few months ago, the strategic Bitcoin reserve bill was signed. Everyone expected a lot of things. I even wrote a few pieces regarding the possibility of this venture and how it could help crypto reach new heights. But since then there hasn't been much word. Of course Bitcoin has moved up to 120,000 but that was not credited to this Bitcoin reserve. In fact, after that announcement Bitcoin had an option and it expected new buyers, the whole market did. This big buyer would have been the US government or so everyone expected. But then it didn't happen because they wanted to fill the reserve with BTC that they have already seen each from different busts. And finally it looks like it has been met with reality. And the reality is bureaucracy and uncertainty. So the BTC uptrend I just mentioned which came upon the announcement of the Bitcoin reserve was obviously short-lived and it quickly reversed to the previous state. And this change in the short term made a CME futures gap of around $10,000. So all these months since it was signed, apparently the initial estimate of how much BTC will be stored in the reserve haven't been reported thoroughly. What I mean to say is that the US Treasury hasn't received a detailed report of the exact or near amount of the BTC it expected to be there. And the reports say that it is only around 15% of what was expected. I believe that this shocking news has aided in the crash which we are seeing right now. Since it is almost clear as day this initiative has failed, at least in the short term. The speed in which people expected Bitcoin to gain prominence isn't truly happening.