As attention on Chinese startup DeepSeek and its artificial-intelligence model led to a $1 trillion wipeout in the U.S. stock market on Monday, shares of bitcoin miners with exposure to artificial intelligence also tumbled.
Bitcoin has experienced a significant drop, falling below $100,000, triggering concerns among cryptocurrency investors. This decline is part of a broader sell-off in technology stocks, which followed the introduction of a new AI model by Chinese startup DeepSick.
An upheaval in global markets sparked by Chinese artificial intelligence startup DeepSeek triggered volatility in digital assets, raising fresh questions about the outlook for crypto following last year’s boom in prices.
The selloff could provide traders an attractive entry opportunity in higher-beta altcoins such as Solana's SOL, which endured a double-digit pullback, one analyst said.
Standard Chartered's Geoffrey Kendrick explains why the impact of DeepSeek on the AI industry could be good for the Bitcoin price.
The price of Bitcoin dipped below $98,000 after DeepSeek, a Chinese AI startup, threw a wrench into Big Tech's week of key earnings.
Investment bank Keefe, Bruyette & Woods (KBW) has given Bitcoin miner Bitdeer (BTDR) an "outperform" rating with a $26.50 price target.
The crypto market is showing signs of stabilizing, with bitcoin recovering to $102,000 and positive signals from futures tied to the Nasdaq. Leading the recovery among major cryptocurrencies is XRP, up 11%, followed by SOL with a 7% increase. AI coins, hit hard on Monday, are posting gains of as much as 4%.
China's technological capabilities may be advancing faster than previously thought, challenging U.S. dominance in AI, digital payments, reserve currency and global trade.
Bitcoin maintains strength above $100,000 despite tech sector decline, showing independence from traditional markets while continuing its upward trend.
Markets seem to have shaken off concerns over the Chinese DeepSeek AI program, with bitcoin back over $102,000. U.S. equities are shy of a new all-time high as Nvidia (NVDA) stormed back with an almost double-digit increase.
Venice AI Token, Bitcoin, XRP, and other cryptos spark market conversations, with mixed reactions and potential growth. Venice AI Token's rapid rise is driven by exchange listings and airdrop, boosting visibility despite a price dip.