you might then ask why are alts up more than btc since the news? my take is - the avg ape who is trading on the headline is not looking into the details of the EO, and is just bulled up in general from it. bigger, smarter money is thinking deeply about the implications of the EO and probably believe 1. it’ll be some time away from it materialising, so there is no rush to buy btc. will prefer to accumulate on dips 2. its not as big a deal as the initial headline after reading the EO, and sold some of their btc exposure they might have accumulated on or before the EO headline.