Bitcoin and US Stocks Face Pressure from Chinese AI Startup DeepSeek
Bitcoin's value has fallen below $100,000 due to a decline in US stocks caused by a competition between Chinese AI startup DeepSeek and ChatGPT. This has raised concerns about a potential BTC price crash warning. The Federal Reserve is expected to make a decision on interest rate changes, adding to the already tense situation for risk assets. The rise of DeepSeek has caused doubts about ChatGPT's competitiveness and impacted US stocks sentiment, with some traders calling for a potential revisit of range lows around $90,000. Additionally, the sudden rise of DeepSeek has caused concern among investors in large-cap US tech, as much of the recent bull market has been based on AI hardware and software. The correlation between Bitcoin and equities is also being scrutinized as risk assets digest a fresh sentiment scare. Finally, bearish derivatives traders have been contrasting strongly in their approach to the market compared with spot buyers, resulting in a record gap in pricing between the two on global exchange Binance.
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