This week, the crypto market initially reacted positively to news of a United States Strategic Crypto Reserve, causing a surge in prices for BTC, ETH, XRP, SOL, and ADA. However, the rally was short-lived as prices quickly returned to pre-announcement levels. Traders offloaded their assets on exchanges, and there was a significant increase in the number of cryptocurrencies flowing into trading platforms. The market analytics platform, CryptoQuant, reported that real spot demand for BTC is still in contraction territory, and bitcoin's apparent demand has continued to decline. Despite the U.S. government's establishment of a Strategic Bitcoin Reserve, CryptoQuant believes that BTC needs higher demand for a sustained rally in price.



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