Maintains $100,000 Support Level as Tech Stocks Face Pressure
The post Maintains $100,000 Support Level as Tech Stocks Face Pressure appeared on BitcoinEthereumNews.com.
TLDR Bitcoin demonstrated resilience by maintaining above $100,000 despite NASDAQ’s 3% decline following DeepSeek AI news BTC recovered from a $97,777 dip to trade above $102,758, showing a decoupling from traditional markets Market sentiment remains bullish with crypto Fear & Greed Index at 72/100, compared to stock market’s 44/100 Historical data suggests February could be strong for Bitcoin, with 10 out of 12 past Februaries showing green performance Analysts project potential new highs within two weeks, citing patterns from previous market cycles Bitcoin has shown remarkable stability by holding above the $100,000 price level despite recent turbulence in the technology sector. The cryptocurrency’s price movement comes as the NASDAQ experienced a sharp 3% decline following announcements about China’s DeepSeek AI model. The leading cryptocurrency briefly touched $97,777 during Monday’s trading session but quickly rebounded, demonstrating strong buying pressure at lower levels. By Tuesday, Bitcoin had recovered to trade above $102,758, marking a swift turnaround from the temporary dip. Market data reveals an interesting divergence between traditional financial markets and cryptocurrency performance. While the S&P 500 closed down 1.5% in its last trading session, Bitcoin managed to add nearly $5,000 to its value from the recent low point. The cryptocurrency’s price action has caught the attention of market analysts, including Bitwise’s European Head of Research, Andre Dragosch. The research head pointed out Bitcoin’s ability to outperform the NASDAQ over a 48-hour period, noting minimal downside risk in current market conditions. $BTC Range keeps ranging. Right back into the high volume area within this range. Doesn’t seem like the $100K mark is left behind so easily just yet. You can probably just go afk until ~$90K or ~$108K is broken and closed below/above. Until then it’s just going to be more of… pic.twitter.com/UpiRz5c4FP — Daan Crypto Trades (@DaanCrypto) January 27, 2025 Sentiment…
Filed under: News - @ January 29, 2025 1:27 pm