Volatile January, Double-Digit Gains in February?

DeepSeek's AI news caused a crypto market sell-off on Monday. Bitcoin plummeted 5%, while Ethereum and Solana sank 8.4% and 15%, respectively.

Monday saw the flagship cryptocurrency drop below $100,000 for the first time in a week to $98,000. As the day finished, it rebounded strongly, regaining the critical support zone.

Bitcoin has been trading between $102,000 and $102,990 since Tuesday morning, failing to reclaim $103,000.

Although Bitcoin dropped, Trader Daan Crypto noted that it remained in its mid-range post-election. “Back into this range's high-volume area. It doesn't seem like $100K is easily forgotten yet, he wrote.

If Bitcoin doesn't break below or beyond $90,000 or $108,000, Daan expects a “decent but choppy” price. Based on history, he predicted higher Bitcoin price activity next month.

The trader notes that February is BTC's second-best month after October. CloinGlass data shows Bitcoin has had 10 green months in the previous 12 years, with returns up to 61%.

Rekt Capital said that Bitcoin made 61% in 2013, 23% in 2017, and 36% in 2021 in February after halving. The analysts noted that “8 out of the past 12 February dating back to 2013 have produced double-digit upside.”

Bitcoin Will Rise Again

Rekt Capital thinks BTC is ready for another run. The expert said that Bitcoin completed its first post-halving Price Discovery Uptrend and first Price Discovery Uptrend Correction.

This suggests BTC “should be able to embark on its second Price Discovery Uptrend to new highs” in two weeks. According to Rekt Capital, the second phase traditionally begins at week 16 of Bitcoin’s Parabolic Phase, with Bitcoin presently commencing the 14th week.

In Week 14 of the 2017 cycle, Bitcoin recovered from its first Price Discovery Correction and reached new highs in Week 16. The analyst noted that Bitcoin bottomed on its first Price Discovery Correction in Week 14 of the 2021 cycle before reaching new highs in Week 16.

#DeepSeekImpact #VVVonBinance #MicroStrategyAcquiresBTC #BTC $BTC