Coindesk

Bitcoin (BTC) dropped to under $99,000 early Monday as traders took profits ahead of the first U.S. FOMC meeting this year, scheduled for later this week, and China-based AI stalwart DeepSeek impacted U.S. tech sector sentiment.Traders expect no indications of a rate cut at the two-day FOMC meeting scheduled for Jan. 28 to Jan. 29, which has typically impacted bitcoin prices as investors either prefer or move away from risk assets.“U.S. economic data shows that there may be less need for a federal interest rate cut in the near term,” Ben El-Baz, managing director of HashKey Global, told CoinDesk in a Telegram message. “Concerns over trade wars and tariffs linger, but a bullish sentiment remains strong as MicroStrategy and Trump's...

Bitcoin (BTC) may drop to $75,000 should it trigger a so-called 'double top' bearish reversal pattern.A double top comprises two consecutive peaks at approximately the same price, with a trendline drawn through the low point between these peaks. The failure to break above the previous peak, followed by a subsequent decline, suggests that the uptrend is losing momentum. So, an eventual breakdown of the horizontal trendline support, the double top neckline, is said to confirm a bullish-to-bearish trend change.BTC has pulled back to $100,000 at the time of writing, having failed to maintain a foothold above the December high last week. In other words, BTC looks to have formed a double top, with neckline support positioned around $91,300. A UTC...

Artificial Intelligence (AI) tokens are in the red during the Asia morning trading hours, with the CoinGecko category down 9%, registering bigger losses than the CoinDesk 20 – a crypto index – which is down 5%.Crypto investors, like their traditional finance counterparts, are likely digesting the impact that DeepSeek, a new AI model, is having on the industry.Data from DeepSeek posted on Hugging Face, a forum of the AI industry, shows that its model outperforms OpenAI, all while being built on a budget of $6 million and a fraction of the Graphics Processing Units (GPUs) that OpenAI uses – which recently closed a $6.6 billion round with a valuation of over $157 billion.Perhaps most concerning to the perpetual GPU bulls...

Donald Trump is officially the 47th President of the United States, and the U.S. government is going in some different directions from the last administration.You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.Executive orderThe narrativeU.S. President Donald Trump was sworn into office on Monday and quickly signed a flurry of executive orders. While it took him a few days to get to crypto-specific items, we've seen a number of actions from his administration already — not to mention the broader Republican Party.Why it mattersThese agencies and Congressional bodies' initial actions set the tone for what we can expect as the new Congress and administration really...

Remember those middle-school writing prompts: Describe your favorite cookie.Your teacher told you to write it as if to an alien, a being who had never encountered a cookie before, which meant touching on each sense – sight, sound, smell, touch, taste. You might not have realized it then, but describing something in a way that allows people to get a clear picture is actually quite hard.Let me try to describe Matheus Pagani, founder and CEO of Venture Miner. Matheus is a male with light caramel skin and dark brown hair. Even though his hair is cut close, you can tell it’s curly. He’s got a thick dark brown, almost black beard, which connects to a mustache. His eyes are dark...