What to know:
- BTC perpetual futures now favor the shorts—who knew bears could be so popular? 🐻
- Nasdaq futures are bleeding out at 3.5%, with NVIDIA taking a 10% dive—guess they forgot their floaties! 🤿
Ah, the Bitcoin market, a place where optimism goes to die. With Wall Street’s tech-heavy Nasdaq futures plummeting by a staggering 700 points, one can only wonder if the crypto gods are having a laugh at our expense. The cause? A little-known Chinese AI startup, DeepSeek, has decided to crash the U.S. tech party, and it seems everyone is scrambling for the exits. 🏃♂️💨
In a twist of fate, Bitcoin’s perpetual futures funding rates have taken a nosedive into negative territory, as if they were trying to escape the gravity of reality. This signals a bearish sentiment, with traders eagerly betting against the price—because who doesn’t love a good underdog story? 📉
Our beloved Bitcoin, the king of cryptocurrencies, has seen a drop of over 3% since the early hours of Asia, flirting dangerously close to the $98,000 mark. Meanwhile, Nasdaq futures are also feeling the heat, with NVIDIA, the supposed champion of AI, down 10% in pre-market trading. Talk about a fall from grace! 👑
“Today’s sell-off follows President Trump’s recent green light for a crypto policy working group, which, in a shocking twist, didn’t confirm a U.S. Bitcoin reserve. Meanwhile, DeepSeek is sending shivers down the spines of tech stocks, proving that cheaper AI models are not just a pipe dream,” said Petr Kozyakov, co-founder and CEO at Mercuryo, in an email that probably had a few exclamation points. 📧
Historically, a negative flip in funding rates has often marked local price bottoms—so there’s that silver lining! And let’s not forget the ever-looming threat of a short squeeze, where bears might just throw in the towel and send prices soaring. But for now, the funding rate has only slightly flipped bearish, so calling it a crowded trade to short BTC might be a tad premature. 🕰️
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2025-01-27 13:31