Bitcoin's $103K Surge: Resilience Amid Market Turbulence
1min readBitcoin Briefly Surges Above $103,000
Bitcoin (BTC) briefly surged above $103,000 on Tuesday, demonstrating remarkable resilience despite recent market turbulence. The leading cryptocurrency touched a new intraday high of $103,050 before retracing slightly, maintaining a strong position above the $100,000 psychological support level.
The cryptocurrency's price movement comes as the NASDAQ experienced a sharp 3% decline following announcements about China's DeepSeek AI model. Despite this, Bitcoin managed to add nearly $5,000 to its value from the recent low point, outperforming the S&P 500, which closed down 1.5% in its last trading session.
Market analysts, including Bitwise's European Head of Research, Andre Dragosch, have taken note of Bitcoin's ability to outperform the NASDAQ over a 48-hour period, highlighting the cryptocurrency's minimal downside risk in current market conditions.
Sentiment indicators suggest strong bullish sentiment among digital asset investors, with the cryptocurrency market's Fear & Greed Index reading at 72 out of 100, compared to the traditional stock market's 44 out of 100. Keith Alan, co-founder of Material Indicators, shared insights about the recent price movement, viewing the brief decline to $97,750 as an opportunity to increase Bitcoin holdings.
Historical data provides additional context for Bitcoin's current market position. According to analysis from Rekt Capital, Bitcoin is currently in day 82 of its parabolic phase, which typically extends for approximately 300 days. This suggests the current upward trend may have considerable room to continue.
Looking at seasonal patterns, February has historically been favorable for Bitcoin prices. Data from CoinGlass shows that Bitcoin has posted positive returns in February for 10 out of the past 12 years, making it the second-strongest month after October in terms of performance. Technical analysis suggests Bitcoin may be preparing for its next upward movement, with the cryptocurrency completing its first post-halving Price Discovery Uptrend and subsequent correction, potentially setting the stage for another push to new price levels.
Market watchers note that Bitcoin's Monday closing 
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