Bitcoin experienced an initial surge of confidence following Donald Trump's election victory, with hopes for a robust Strategic Bitcoin Reserve driving prices up. However, since Trump's inauguration, Bitcoin has plummeted more than 20%, as high expectations for a significant shift in crypto policy were dashed by the announcement of a reserve made up of seized assets. This shift in market sentiment has led to a notable 'extreme fear' status among investors, illustrating the volatility of the crypto market amidst external pressures and unmet expectations.
'The recent executive order about a cryptocurrency reserve has dashed high expectations that investors had for a more robust Bitcoin strategy under President Trump.'
'What initially appeared as a bullish start for Bitcoin has quickly turned into a bearish outlook, with a notable decline since the inauguration of Trump.'
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