BTC price woes are increasingly a thing of the past after Bitcoin recovers the majority of its DeepSeek dip.
Bitcoin
BTC
$102,679
is a “buy” again after reclaiming $102,000 during the DeepSeek US stocks rout.
In a post on X on Jan. 28, Andre Dragosch, European head of research at asset management firm Bitwise, called BTC price action “extremely bullish.”
BTC price action “outperformed” Nasdaq
Bitcoin is beating stock markets on intraday timeframes, showing resilience in the face of mass uncertainty over the US’ prowess in the AI sector.
BTC/USD has gained more than $5,000 since its local lows of $97,750 on Jan. 27, putting it firmly in contrast to both the S&P 500 and Nasdaq 100. These closed the latest trading session down 1.5% and 3%, respectively.
Even as concerns over DeepSeek continued with the announcement of another DeepSeek AI tool, the Janus-Pro-7B image generator, Bitcoin bulls held the six-figure mark.
“The fact that Bitcoin stabilised while the NASDAQ continued to slide is extremely bullish imo,” Dragosch thus reacted.
“Bitcoin also outperformed the NASDAQ over the past 2 trading days. Bitcoin already showing limited downside here.”
The increasing divergence between crypto and stocks is also apparent in sentiment data. According to the Fear & Greed Index, an atmosphere of “fear” currently prevails across the latter with a score of 39/100.
Meanwhile, the Index’s crypto equivalent measures 72/100, closing in on “extreme greed” territory.
Among them is Keith Alan, co-founder of trading resource Material Indicators, who confirmed that he had scaled into the market on the bounce.
“That wick to $97,750 should not shake your confidence in this Bitcoin bull run, but it should remind you that a deep correction can, and most likely will, develop when the market gets over hyped,” he told X followers.
Alan referenced one of Material Indicators’ proprietary trading tools showing positive signals for price direction.
“Recovering the 21-Day Moving Average before the D candle close was a positive sign, and the new Trend Precognition signal is an indication that BTC is likely to continue consolidating in this range before the next explosive move develops,” he continued.