As the Lunar New Year dawned, Alibaba unleashed its latest creation, Alibaba Qwen AI 2.5, a behemoth of artificial intelligence that claims to surpass the vaunted DeepSeek-V3 in every conceivable aspect. The timing of this unveiling has set tongues wagging, with whispers of a crypto market crash sending shivers down the spines of investors. 🤑
The dominance of US AI companies, those behemoths of innovation, is under threat. Their billions of dollars in funding, once thought to be a guarantee of success, now seem like a mere drop in the ocean compared to the might of Alibaba’s Qwen. 💸
The Rise of Alibaba Qwen AI: A Crypto Market Crash in the Making?
The Cloud Unit of Alibaba took to its official WeChat account to tout the prowess of Alibaba Qwen AI, claiming it can outperform the likes of GPT-4o, DeepSeek-V3, and Llama-3.-405B. Reuters has reported that this new model has investors questioning the wisdom of the US AI firms’ massive spending plans. 🤔
DeepSeek’s AI model has already left its mark on the US market, causing a crash in the share market and the crypto market. The culprit? Low development costs and usage costs, with DeepSeek spending a mere $6 million compared to the US AI giants’ $250 billion. Now, Alibaba’s Qwen has joined the fray, and the results are ominous. 😱
Will Bitcoin and Altcoins Crash Ahead? 🤯
The DeepSeek saga led to a precipitous decline in the crypto market, with digital tokens crashing left and right. AI coins saw a major crash recently, with NEAR, NCP, and RENDER registering a plunged value within the range of 8-10%. Other cryptocurrencies like BTC, ETH, and XRP also declined. It’s now speculated that a similar trend could mark a resurgence, courtesy of Alibaba’s Qwen. 📉
Arthur Hayes, former BitMEX CEO, has predicted a mini financial crisis, saying that Bitcoin could drop to a value of $70,000. However, he’s also said that the resumption of money printing could send the value of BTC to $250k by the end of this year. 🤑
Ki Young Ju, the CEO of CryptoQuant, has said that there’s still room for growth and global promotion by Donald Trump could extend the bull run to another couple of quarters. 📈
Current Crypto Market Sentiments 🤔
Sentiments within the crypto market are bullish, especially for BTC. Coincodex has reported that the community is largely optimistic about Bitcoin with an FGI of 72 points. The flagship token is down by 0.61% in the last 24 hours to a value of $102,394.44, but it can still rebound considering almost 11 US states are pushing to have Strategic Bitcoin Reserve. 🚀
Ethereum is trading at $3,133.57, down by 2.15% over the past 24 hours. There’s a chance that ETH price crash may happen, and it may go down to $3,000. Overall, the global market cap of cryptocurrencies is down by 1.05% to around $3.47 trillion. 📊
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2025-01-29 14:46