When Bitcoin Met $91K: Will the Bulls Survive? 🐂💰

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Here’s the Deal:

  • Nasdaq futures are having a rough day, down by 4% thanks to China’s DeepSeek AI. It’s like when you drop your ice cream on the ground – total bummer. 😢
  • Bitcoin‘s short-term holders are sweating bullets with a cost basis around $91,000. That’s a 15% correction from the all-time high, folks! 📉

Bitcoin (BTC) took a dive below $98,000, a 10% plunge from its all-time high. Investors are scratching their heads wondering if the bull run will continue. 🤔

The blame game points to China’s DeepSeek AI, which is apparently giving U.S. tech companies a run for their money. It’s like the high school drama all over again. 🙄

Since Trump’s victory, BTC has skyrocketed from $66,000 to $109,000. But let’s not forget the rollercoaster ride with two 15% corrections and several double-digit drops. So, this 10% dip isn’t exactly out of the ordinary. 🎢

The short-term holder cost basis, aka the average price paid by those who’ve moved coins in the last 155 days, is currently at $91,000. If BTC slips below that, the bulls might need some smelling salts. 💨

Bearish vibes are creeping in as bitcoin funding rates turn negative. Arthur Hayes, co-founder of Bitmex, predicts a correction to $70,000-$75,000 before reaching for the stars at $250,000. 🌠

The sell-off isn’t exclusive to crypto; U.S. markets are feeling the pain too, with Nasdaq futures down 4%. It’s raining on everyone’s parade. ☔️

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2025-01-27 14:28