On January 27th, QCP Capital's latest analysis pointed out that Bitcoin and other risk assets fell back to below $100,000, mainly due to the continuous fermentation of Deepseek-related news since the weekend. Deepseek's breakthroughs in cost efficiency and open-source technology could pose a threat to US AI dominance, according to analysts. Trump has successfully used tariffs to force Colombia to accept deportation of immigrants, and the market is concerned about its possible response to AI competition. QCP Capital said it would be difficult for bitcoin to break out of the current range before confirming the National Strategic Bitcoin Reserve Plan. The Trump administration's assessment of the "National Digital Asset Reserve" has not been enough to maintain market optimism. The Options Risk Reversal Indicator shows that market bullish sentiment is concentrated after March. With Deepseek posing a threat to U.S. markets, Trump is likely to take action to stabilize the market. Market volatility and VIX remained high ahead of the January 30 FOMC meeting, but QCP Capital expects bitcoin to remain relatively resilient.