Today’s markets analysis on behalf of Konstantinos Chrysikos Head of Customer Relationship Management at Kudotrade
Bitcoin recovered to a certain extent from a sharp drop triggered yesterday by the market’s reaction to DeepSeek, which raised concerns about the AI craze and affected risk appetite. While the market reacted initially with panic with traders selling risky assets, the market stabilized today with Bitcoin prices hovering near USD 102,000 but could continue to see risks.
In this regard, crypto ETFs experienced their first decline yesterday following seven days of inflows. Major BTC ETFs saw outflows totaling over USD 450 million. Ethereum spot ETFs also saw withdrawals as the selloff reached other cryptocurrencies, some of which were not able to recover. These outflows could indicate a shift in investor sentiment, potentially limiting significant upside on both Bitcoin and the broader crypto market in the near term due to the uncertainty on global markets.
However, large players in the crypto market continue to invest in Bitcoin. Metaplanet is raising USD 745 million to acquire 21,000 BTC by 2026, marking the largest such operation for Bitcoin in Asian equity markets. Similarly, MicroStrategy continues to massively acquire Bitcoins potentially supporting prices.
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