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Bitcoin and Ethereum made a comeback after a significant decline the previous day. This drop was primarily driven by a decrease in demand for risk assets, following a major sell-off in the U.S. stock market. Notably, NVIDIA's stock fell by 17%, resulting in a loss of $600 billion in market capitalization, which highlights the severity of the situation.
The Chinese startup DeepSeek is causing concerns that could pose a threat not only to the US stock market but also to the cryptocurrency market, which has recently shown a strong correlation with fintech. Yesterday, Trump mentioned that he might implement radical measures to protect the economy; however, the exact effects of these measures on risky assets, such as Bitcoin, remain uncertain. For Bitcoin (BTC) to experience significant growth, concrete steps must be taken to establish a national reserve of digital assets in the US. Current discussions are insufficient to support a sustainable bullish trend.
The growing influence of DeepSeek poses risks not just to U.S. equities but also to cryptocurrencies. Trump's talk of protectionism has left investors feeling uncertain. If he were to implement radical measures, it could create a domino effect that impacts the liquidity and stability of risk assets. However, without a clearly defined strategy to support digital assets, such actions could worsen market conditions. Unless there is a strategic initiative to build a national reserve of cryptocurrencies or to implement regulations that promote Bitcoin's sustainable growth, these discussions will remain merely theoretical.
On January 23, the Chinese government announced an investment of $138 billion aimed at developing AI technologies, with a significant portion of the funds dedicated to creating innovative neural networks.
In terms of intraday trading in the cryptocurrency market, I will continue to focus on capitalizing on any major pullbacks in Bitcoin and Ethereum, as I anticipate that the medium-term bullish trend will persist.
Below are the strategies and conditions for short-term trading.
Buy Scenarios
Sell Scenarios
Buy Scenarios
Sell Scenarios
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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