Market
How will DeepSeek AI's launch impact U.S. tech stocks by March 31, 2025?
2
Resolution / Starting Odds
Increase by over 5% • 25%
Change between -5% and +5% • 25%
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Publicly available data from financial platforms like Bloomberg or Yahoo Finance
Story
Bitcoin Slides Over 5% Below $100,000 Amid DeepSeek AI Launch and $610M Liquidations
Jan 27, 2025, 06:38 AM
Bitcoin's price has dropped below the $100,000 threshold for the first time since reaching a high of $110,000 during President Trump's inauguration a week ago. The cryptocurrency fell over 5% in the last 24 hours, reaching a low of $98,000 and resulting in liquidations totaling $610 million. The decline is attributed to traders locking in profits ahead of the Federal Open Market Committee (FOMC) meeting scheduled for January 28–29, 2025. Market sentiment has also been impacted by Chinese AI company DeepSeek's launch of a new low-cost, open-source AI model, which outshines U.S. tech firms like OpenAI and raises concerns over U.S. tech sector dominance. This development has affected U.S. tech stocks such as Nvidia. Arthur Hayes, former CEO of BitMEX, predicts that Bitcoin could decline further to between $70,000 and $75,000, describing the situation as a "mini financial crisis."
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Similar markets
Amazon • 25%
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Google • 25%
Microsoft • 25%
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