Bitcoin Holds Steady Amid NASDAQ Decline, Analyst Calls It ‘Extremely Bullish’

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	2,087,563,054,451	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

2,087,563,054,451

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	1,817.10	1.75%	105,554.68	105,554.65	105,554.66

Price Change

Price Change %

Current Price

Bid Price

Offer

1,817.10

1.75%

105,554.68

105,554.65

105,554.66

High Price	Low Price	Open Price	Prev. Close	52 Week Range
106,484.77	103,289.74	103,725.62	103,737.58	41,846.04 - 109,356.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

106,484.77

103,289.74

103,725.62

103,737.58

41,846.04 - 109,356.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	19:13:23	0.000087	105,554.65	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

19:13:23

0.000087

105,554.65

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,309,797,598.26	12,440.10	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,309,797,598.26

12,440.10

Bitcoin Holds Steady Amid NASDAQ Decline, Analyst Calls It ‘Extremely Bullish’

29/01/2025 5:00am

NEWSBTC

Yesterday, the NASDAQ slid 3% as China’s low-cost AI model, DeepSeek, sent shockwaves through the tech industry, triggering a steep sell-off in US chipmakers. While Bitcoin (BTC) also dipped to a low of $97,777, the flagship cryptocurrency has since recovered most of its losses, trading above the key $100,000 price level. Bitcoin Holding Strong Despite NASDAQ Sell-Off Bitcoin’s resiliency amid the stock market sell-off is ‘extremely bullish’, says Bitwise’s European Head of Research, Andre Dragosch. They highlighted that the leading digital asset has outperformed NASDAQ over the past two days and is currently showing limited downside risk. It is worth noting that BTC has gained close to $5,000 since yesterday’s dip to $97,777, trading at $102,758 at the time of writing. In contrast, the S&P 500 closed yesterday’s last trading session down 1.5%. Related Reading: Bitcoin Profit-Taking Drops 93% From December Peak – What’s Next For BTC? The decoupling between BTC and the stock market is further evidenced by differing investor sentiments. According to the ‘Fear & Greed Index’, the stock market currently sits at 44/100, indicating lingering fear among investors after yesterday’s market downturn. Conversely, the Index’s reading for the crypto market stands at 72/100, suggesting a sentiment of greed toward digital assets. However, this could also indicate that the crypto market is lagging behind the stock market and may experience a further drawdown while the stock market seeks stability. Meanwhile, Keith Alan, co-founder of Material Indicators, shared a post on X, viewing BTC’s brief slump as a dip-buying opportunity and adding to his BTC position. Alan noted: 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. Similarly, seasoned crypto trader and analyst Rekt Capital shared insights on Bitcoin’s current price momentum, stating that it is “still relatively early” in BTC’s parabolic phase for this market cycle. Historically, this phase has lasted about 300 days on average, and BTC is currently at day 82. BTC Top Not In Yet? Although BTC reached a new all-time high (ATH) of $108,786 on January 20, some analysts believe the top is not yet in for the cryptocurrency. According to analysis by Stockmoney Lizards, BTC could reach a cycle peak of $400,000 by November 2025. Related Reading: Bitcoin Price Forecast Of $150,000 ‘Too Low’ Amid Rising Adoption, Crypto Trader Says A further rally for BTC seems plausible, as ‘whales’ have started accumulating the cryptocurrency since Donald Trump’s inauguration. Other projections suggest BTC may peak at $249,000 under the Trump administration. On a longer-term horizon, BTC could reach as high as $1.5 million according to Metcalfe’s Law. At press time, BTC trades at $102,758, up 1.1% in the past 24 hours. Featured image from Unsplash, Charts from X and TradingView.com

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