Crypto assets saw a panicky decline overnight alongside a Nvidia-led tech stock plunge on DeepSeek’s more efficient artificial intelligence model.
With bitcoin (BTC) at one point sliding from a Sunday high of $105,000 to below $98,000 before bouncing back to its current level just below $100,000, some analysts warned this could be the start of an even deeper pullback.
Among those taking the other side of that trade is Geoffrey Kendrick, global head of digital asset research at Standard Chartered Bank.
“Buy the dip,” he said in a Monday morning report.
Kendrick one week ago warned of a potential 10%-20% correction thanks to markets having priced in overzealous expectations of Trump’s crypto executive order and strategic reserve. The overnight selloff, he argued, likely took care of much of this.
While there might be some more pain ahead this week with U.S. big tech companies reporting earnings this week and the Federal Reserve’s January…
