Crypto Drama: Trump Tokens Soar While Bitcoin Dances with DeepSeek! 🐍💰

by

What to know:

  • BTC has decided to rise nearly 4% in the past 24 hours, like a phoenix from the ashes of Monday’s $1 billion futures liquidation fiasco. 🦅
  • XRP is the star of the show, leading the gains with a dazzling 12% surge, while Cardano’s ADA, BNB Chain’s BNB, Solana’s SOL, and dogecoin (DOGE) are all zooming up to 9%. 🚀
  • But hold your horses! Some traders are whispering that DeepSeek’s breakthrough might just be the plot twist we didn’t see coming for bitcoin and the crypto markets. 🎭

Bitcoin (BTC) has risen to nearly $103,000, ushering in gains across the crypto market on Tuesday, all thanks to DeepSeek’s dramatic entrance that sent U.S. indexes tumbling on Monday. Who knew AI could be so dramatic? 🎢

XRP is still basking in the limelight with its 12% surge, while the rest of the crypto gang—Cardano’s ADA, BNB Chain’s BNB, Solana’s SOL, and dogecoin (DOGE)—are all having a party with gains up to 9%. Ether (ETH) is also feeling generous with a 4.5% gain, and the overall market cap is up 3%. 🎉

BTC’s 4% rise in the last 24 hours is like a soothing balm for the wounds inflicted by Monday’s $1 billion liquidation drama and an 8.5% decline in the CoinDesk 20 (CD20) at its peak. Ouch! 😬

Large liquidation events are like those surprise sales at your favorite store—an opportunity to buy when the market is feeling a bit too stretched. CoinDesk noted that these events can signal a price correction, among other things. 🛍️

Meanwhile, TRUMP tokens are up 12%, leading the midcap gains. Who knew politics could be so profitable? 💸

Part of the major gains can be attributed to Tuttle Capital filing the first-ever 2x leveraged ETFs in the U.S. on Monday. They’re proposing products that promise to return 200% of the daily price performance of nearly all major tokens, plus BONK, TRUMP, and MELANIA. Talk about a party! 🎊

Monday’s nosedive was largely due to DeepSeek’s breakthrough, which outperformed AI giant OpenAI’s model while being built on a shoestring budget of $6 million. Who needs billions when you have a good idea? 💡

However, some traders are still wary, claiming that DeepSeek’s breakthrough is just one of many factors that could shake up the bitcoin and crypto markets. 🌀

“Initial fears about DeepSeek presented a buying opportunity for crypto since the industry isn’t in direct confrontation with the Chinese AI firm,” Nick Ruck, director at LVRG Research, told CoinDesk in a Telegram message. “Instead, crypto project founders can integrate DeepSeek’s open-sourced model for more efficiency and innovation. How very modern! 🤖”

“But beware! Choppy waters are ahead as this week is packed with macro data releases from U.S. agencies, including the FOMC, and earnings reports from major companies like Apple, Meta, and ASML. We’re still optimistic for Bitcoin in the long run, as policies are shaping up to be quite beneficial for the crypto industry’s growth in the U.S. and beyond,” Ruck added, probably while sipping a latte. ☕

Traders are not expecting any hints of a rate cut at the two-day FOMC meeting scheduled for Jan. 28 to Jan. 29, which usually sends bitcoin prices on a rollercoaster ride as investors decide whether to embrace or flee from risk assets. 🎢

Meanwhile, Singapore-based QCP Capital is throwing in some astrological cues as part of their Tuesday market update. Because why not? 🌌

“As we approach the Year of the Snake, the market’s twists and turns remind us of the wisdom, adaptability, and resilience this zodiac symbolizes—qualities that will

Read More

2025-01-28 14:33