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Bitcoin's wild week 🎢

Bitcoin's wild week 🎢

Bitcoin pumped and plunged this week thanks to China's surprise AI supremacy, bullish Fed comments on crypto banking, and Trump tariff fears.

Andrew Hayward
February 01, 2025

📝 What you need to know

It’s been another volatile week for Bitcoin.

The top crypto asset started the week above $105,000, then plunged to nearly $98,000 on Monday amid a wider rout spurred by the markets-rattling surprise launch of Chinese AI model DeepSeek. Then on Wednesday, Bitcoin surged again on bullish crypto banking comments from Federal Reserve Chair Jerome Powell, nearly touching $106,000 early Thursday.

But it wouldn’t last: On Friday, word of President Trump’s impending tariffs against Canada, Mexico, and China pushed Bitcoin and other assets back down, with BTC trading for a little over $101,000 as of this writing.

And price was only part of the story this week: There was also Tether’s announcement of USDT coming to Bitcoin, flip-flopping ETF flows, and pushback from Bitcoiners over Ripple’s suspected attempts to broaden Trump’s proposed strategic reserve. Catch up on all of that in our weekend Bitcoin roundup.

This Week in Bitcoin: Trump Tariffs and DeepSeek Fuel Plunges, But Tether Is Coming

Bitcoin swung wildly thanks to DeepSeek fears, Fed hopes, and Trump tariffs, while Bitcoiners got mad at Ripple over U.S. reserve plans.

OpenAI Fights Back Against DeepSeek AI With Early o3-Mini Launch—Here's How It Compares

The release of OpenAI's o3-mini comes as DeepSeek's ultra-efficient R1 model sparked a trillion-dollar tech selloff and reshaped the AI landscape.

Grayscale Debuts New Dogecoin Trust—And Files to Convert It Into ETF

Grayscale, known for its Bitcoin and Ethereum spot ETFs, has now launched a Dogecoin trust—and filed to convert it into a spot ETF.

MicroStrategy Is Raising $584 Million to Stack Even More Bitcoin

Software company MicroStrategy will issue new stock—STRK—to raise funds so it can add to its $48 billion Bitcoin treasury stash.

😂 Meme of the Day

Source: X

🌐 From Our Hubs

🎮️ GG: GTA Meme Coins Flood Solana as ‘Grand Theft Auto 6’ Hype Builds

Following rumors that GTA 6 will implement crypto, Grand Theft Auto-inspired meme coins are popping up left and right on Solana.

🤖 EMERGE: An Undetectable VPN? Nord Unveils NordWhisper Protocol

NordVPN's new protocol disguises VPN traffic as regular web browsing, trading some speed for better access in restricted networks.

🎭️ SCENE: UFC Instagram Hack Pummels Buyers of Illegitimate Solana Meme Coin

After UFC's Instagram was hacked to promote a pump-and-dump Solana meme coin scam, the attackers got away with $1.4 million in profit.

📚 Watch and Learn

📹️ WATCH: This Meme Coin Saved Solana

After Sam Bankman-Fried’s FTX collapsed in 2022, the future of Solana looked bleak. But from the fraud-fuelled ashes came a meme coin that saved the network. Bonk was created and airdropped to a ton of Solana developers as a way to bring back fun vibes to the network. In many ways, it worked.

🎓️ LEARN: How to Prepare for Berachain: The Novel Proof-of-Liquidity Blockchain

The highly anticipated launch of Berachain’s proof-of-liquidity blockchain is coming soon. Here’s how you can prepare.