Odaily News Jeff Park, head of research at Bitwise, published an analysis saying that the Strategic Bitcoin Reserve (SBR) plan failed to provide a clear path for the global adoption of Bitcoin, and market confidence was dampened, leading to a sharp correction in Bitcoin.
He pointed out that the current global market has increased expectations for rising long-term interest rates, and the crypto market and US stocks are under pressure at the same time. Trump's remarks at the WH Crypto Summit also exacerbated market volatility. TSLA's stock price has fallen more than 50% from its historical high, further amplifying the market's risk aversion.
However, Park believes that global liquidity will eventually recover and Bitcoin remains one of the most resilient assets in the market. He emphasized that Bitcoin ETFs enable traditional financial markets to make regulated long-term bets on limited supply assets for the first time, which may increase market volatility in the future, but may also bring new growth momentum to BTC.