Here is the English translation: The cryptocurrency market has fallen, as Trump's Bit coin reserve plan has caused volatility and skepticism. Trump's executive order establishes a US Bit coin reserve and digital asset reserve, but analysts believe the lack of clear details has led investors to remain cautious, resulting in a widespread sell-off in the market. The cryptocurrency market is facing massive sell-off pressure, and volatility is expected to continue in the foreseeable future as traders and investors are still digesting the impact of the highly anticipated White House cryptocurrency summit. The price of Bit coin has fallen below $80,000, which is the second time it has fallen to this level within three weeks - a price level that the world's largest cryptocurrency has not traded at since before the US election in November. Last Friday, a day after signing the executive order to create a strategic Bit coin reserve and digital asset reserve, US President Donald Trump vowed to sign stablecoin legislation by August and end the decentralization of cryptocurrencies. Nevertheless, this still leaves some people hoping for more. "Donald Trump's much-anticipated cryptocurrency summit was a typical public relations exercise," said Kai Warwzinek, co-founder of Impossible Cloud Network, in a statement. "Despite promises of major changes for cryptocurrencies, the US president has delivered almost nothing." Trump's executive order directs a comprehensive liquidation of the federal government's digital asset holdings. The US will not sell any Bit coins deposited in the reserve, and these Bit coins will be held as a store-of-value asset, similar to a digital "vault". The order also establishes a US Digital Asset Reserve, which includes digital assets forfeited in criminal or civil proceedings, other than Bit coin. The government will not acquire additional assets beyond what is obtained through forfeiture proceedings. According to Bit coin Treasuries data, the US government owns 198,109 Bit coins, valued at around $16 billion at current market prices. "If Trump's Bit coin reserve plan lacks clear details, cryptocurrency volatility may still be high," said Marion Laboure of Deutsche Bank. "There is uncertainty around timing, funding, and allocation. The market remains cautious, focusing on gains if the plan progresses, and losses if it stagnates." "Overall, this summit was just to fulfill an election-winning promise," Warwzinek said. "As most people expected, Trump is more concerned with immigration, conservative social policies, and tough treatment of trade partners. If the cryptocurrency industry hopes to get more from the president, it may need to pay more through this Bit coin reserve plan." As of March 9, the annualized Bit coin volatility has soared to 62.67%, the highest level in three months. RELATED INDICES The overall cryptocurrency market has fallen by more than 4% in the past 24 hours. "Mismatch between expectations and reality" "The current cryptocurrency market sell-off exposes a mismatch between expectations and reality," said financial analyst and The Coin Bureau founder Nic Puckrin. "Investors clearly had unrealistic expectations about the cryptocurrency reserve, and were disappointed when the details were revealed." Puckrin pointed out that the Trump administration is more focused on long-term interest rates and budget deficits, which means cutting spending and imposing tariffs will become the norm. "This may be painful for risk assets in the short term, but the 10-year Treasury yield has fallen like a rock," he said in a statement. "In the long run, this is much more important for Trump and his constituents, as it means interest rates will fall, and the US will finally be able to escape its debt trap." Given the current macroeconomic issues, risk assets may continue to face more pressure in the foreseeable future. "The improved regulatory environment and the promise of integration with the traditional financial system will cement the important role of cryptocurrencies in the US financial landscape," Puckrin continued. "This progress is worth celebrating, rather than complaining about the short-term pessimistic backdrop."