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    Bitcoin Slides Over 5% Below $100,000 Amid DeepSeek AI Launch and $610M Liquidations

    Bitcoin Slides Over 5% Below $100,000 Amid DeepSeek AI Launch and $610M Liquidations

    26 postsStocksMarketsAI ModelingBusinessCryptoAI

    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."

    Proposed Market

    Will the FOMC announce a rate hike on January 29, 2025?

    Will the FOMC announce a rate hike on January 29, 2025?

    3
    Federal Open Market CommitteeBitcoinTrumpBitMEXArthur HayesFOMCNvidiaOpenAIDeepSeekChinese

    Description

    Official announcement from the Federal Reserve after the FOMC meeting

    Market Options

    Yes50%
    No50%