Bitcoin Holds Steady Amid NASDAQ Decline, Analyst Calls It ‘Extremely Bullish’
Summary
NASDAQ fell 3% due to China's AI model, DeepSeek, causing a sell-off in US chipmakers. Bitcoin dipped to $97,777 but recovered to trade above $100,000, currently at $102,758. Bitcoin's performance is viewed as bullish, outperforming NASDAQ and showing limited downside risk. The S&P 500 closed down 1.5%. Investor sentiment differs, with the stock market's Fear & Greed Index at 44/100, indicating fear, while the crypto market's index is at 72/100, suggesting greed. Analysts believe Bitcoin's current price momentum is early in its parabolic phase, which historically lasts about 300 days. Projections suggest Bitcoin could peak at $400,000 by November 2025, with potential long-term highs of $1.5 million based on Metcalfe’s Law.
