Bitcoin and crypto prices have moved sharply lower, diving along with a stock market sell-off sparked by the surging popularity of China-based artificial intelligence app DeepSeek.
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The bitcoin price has dropped under $100,000 per bitcoin, down from an all-time high of almost $110,000 ahead of U.S. president Donald Trump’s inauguration (despite the chief executive of major bitcoin and crypto exchange Coinbase predicting when the bitcoin price could flip gold’s $18 trillion).
Today, while Larry Fink of Blackrock shows his conversations with the sovereign budget about the acquisition of Bitcoins, the very monitored cryptocurrency merchant Arthur Hayes warns of an imminent “financial crisis” and hopes that new measures to recover the Federal Reserve.
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“I’m calling for a correction from $70,000 to $75,000 in Bitcoin [and] a mini-financial crisis,” Pielero of Bitcoin derivatives and Crypto Derivatives Bitmex, who later set up investment fund Maelstrom, in X.
Bitcoin surpassed $70,000 after Donald Trump’s election victory in November, as investors will bet that Trump will drive expansion in Bitcoin and Crypto.
Last week, Trump followed through on his campaign promises to make overhauling crypto policy one of his administration’s priorities, ordering the creation of a bitcoin and cryptocurrency working group tasked with proposing new regulations and exploring the creation of a national cryptocurrency stockpile.
The bitcoin price is closely correlated to the U.S. stock market, with bitcoin and crypto trading inline with high-growth tech stocks that have surged due to the rush into artificial intelligence since 2022 but now look at risk as DeepSeek achieves performance similar OpenAI’s models with fewer chip requirements.
“The lack of threat is the issue because Deepseek scares investors,” market analyst Adam Kobeissi told
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The value of Bitcoin has reached a top of all time this year, even when the fears that a bitcoin that is worth accessing . . . [+] may be on the horizon.
“Nasdaq 100 futures are now down -330 points since the market opened just hours ago as DeepSeek takes #1 on the App Store. This is how you know DeepSeek has become a major threat to U.S. large cap tech,” Kobeissi’s market advisory service account posted.
This week, the Federal Reserve is expected to leave interest rates in the air when of interest.
“With the fall in oil costs, I will ask that interest rates pass immediately, and in the same way, they transmit throughout the world,” Trump told the participants in the World Economic Forum last week.
However, Hayes said he believes “in a recovery in cash printing that would take [bitcoin’s value] to $250,000 by the end of the year. “
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