Austen-Tinged Tidings: Bitcoin finds itself a Blue-knot Maid, with $100k cast aside in Trump’s reign’s wake; it’s naught a game of Whisper, No.
During the tenure of US President Donald Trump, the value of Bitcoin fell beneath the sum of $100,000 for the initial occasion, as the entire globe’s financial markets reacted to an escalation in competitiveness within the domain of Artificial Intelligence and a transformation in monetarist policy.
The world’s largest digital currency by market cap descended to as low as $98,046 on the twenty-seventh day of January.
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The progress of DeepSeek’s AI model, reportedly developed utilizing a substantial sum of $6 million, has heightened concerns regarding a possible intensification of the AI arms competition, its success reverberating throughout markets around the world.
Nvidia, whose remarkable success in the AI boom led to a remarkable valuation of $3.49 trillion, experienced a decline of 3.12% by the closing bell on January 24.
In the domain of cryptocurrencies, a notable sum of $864 million in positions were dismissed, with Bitcoin (BTC) long positions contributing to the sum of $250 million alone, according to CoinGlass data.
“A number of derivatives who had taken long positions on the margin found themselves required to satisfy these commitments,” remarked Justin d’Anethan, Head of Sales at token launch advisory firm Liquifi, in an insightful conversation with CryptoMoon.
“The surge in demand for defensive instruments provides indication that traders are preparing themselves for additional turmoil; with no remarkable catalyst anticipated until this week’s [Federal Open Market Committee] gathering, it is likely that the market will remain attributed within this range as it eagerly awaits fresh policy signals,” he added.
The United States Federal Reserve’s inaugural decision regarding interest rates under the leadership of President Trump is scheduled to take place on January 28 and 29, with the expectation of no change from the current rate of 4.25% to 4.5%, as suggested by the CME FedWatch tool.
Nevertheless, analysts at Matrixport present a scenario that holds promise despite the substantial pessimism that currently pervades the market. The crypto services provider refers to the approaching festivities of the Chinese New Year and Lunar New Year across Asia this week as the “most statistically advantageous 20-day window for Bitcoin.”
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2025-01-27 13:00