The news that pushed BTC below 85k late last night

Late yesterday evening (just after 12am GMT) news emerged regarding the planned US Crypto reserve fund. The initial news release stated that Trump had now signed an executive order establishing a new Crypto fund. The announcement initially stated the fund will not sell any BTC deposited into it and those coins will come from that which has already been seized by US authorities in various actions seen to date. Now, seemingly that news was a positive and BTC lifted above 91k (91,265 the high) on the news. However, almost immediately further news from the US crypto tsar (David Sacks) sent it reeling. That is because he also implied; that no further purchases of BTC were planned for the Fund. Well, as you can imagine those comments had a dramatic negative impact and BTC crumbled to below 85k. The low seen was set at 84,707. It has rebounded from that low since, but overall this news may just prove to be another nail in the coffin for BTC. We shall see on that as the day unfolds.There is more to come from the US on that strategic reserve later today. The high since that low last night has been set at 88,905. So as you can see BTC is still inside the range defined by the 200 day moving average on the base (now at 83,019) and the 50 and 100 day moving averages on the top (now at 96,898 and 97,214 respectively). It is currently trading at 87,905