First, the obvious: DeepSeek has nothing to do with Bitcoin, Standard Chartered’s Geoffrey Kendrick told Decrypt. But there’s also this to consider: Because DeepSeek means the price of AI is lower, “it actually lowers inflation and is good for risk assets (like Bitcoin) which have no-AI presence,” he added.
Kendrick expects Bitcoin to continue to rebound in the coming days, although the strength and timing of any return will depend on Jerome Powell and the rest of the FOMC.
“Risk assets will now wait for the Fed to pass tonight,” he adds. “If it is neutral I think BTC trades back above $105k, where it was pre-DeepSeek.”
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Walrus revolutionizes decentralized data storage with a secure, scalable, & cost-efficient solution for Web3 applications on any chain. Builders and users benefit from high-speed, reliable data access, with Decrypt and One Championship already joining the herd. Join the Quest and get to know Walrus!
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