Key points:
- Bitcoin bulls back in charge
- DeepSeek worries ease
- Fed, tech earnings ahead
Crypto asset dived as low as $98,000 per coin on DeepSeek worries but that turned out to be overblown. At least for now.
🐮 Bitcoin Steady as DeepSeek Fears Fade
- Bitcoin prices
BTCUSD were gravitating toward $102,000 on Wednesday morning after a turbulent start of the week left crypto traders in limbo. The token’s price was knocked by worries that the American-led AI revolution might have been way oversubscribed and overpaid. - Such worries hit on Monday when DeepSeek’s AI model, R1, blew a $1 trillion hole in the stock market and inevitably affected crypto prices.
🌊 Bitcoin Dived to $98,000 Monday
- Bitcoin tumbled to a weekly low of $98,000 on Monday and then shot up to a weekly high of $103,600 on Tuesday only to fall back a little to current market prices.
- The week is far from over with a ton of new stuff waiting to unfurl and potentially present fresh trading opportunities.
👨⚖️ Fed Decision, Tech Earnings
- The Federal Reserve decides on interest rates today and analysts expect the central bank to hold borrowing costs steady. Jay Powell, Fed boss, will take the stage for a press conference after the decision.
- After the closing bell today, it’s tech giants’ turn to report earnings data for the fourth quarter. Microsoft MSFT, Tesla TSLA and Facebook parent Meta META are on deck for updates.
