CryptoQuant research director: Traders may be positioning themselves ahead of the White House encryption summit, opening new longs positions

Jinse Finance reported that Julio Moreno, head of research at CryptoQuant, stated on X platform that there has been a significant change in traders’ behavior since Trump announced the strategic encryption reserve plan: Closing short positions: Traders are rushing to cover shorts, reducing bearish risks. Profit Taking: After the initial price increase, some traders choose to take profits and exit. Establishing long positions: Some traders may be positioning themselves ahead of the White House encryption summit by opening new long positions.

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