Bitcoin falls below $100K for the first time under Trump presidency
The rise of the Chinese AI model DeepSeek has rattled global markets as the crypto market sees $864 million in 24-hour liquidations.
Bitcoin fell below $100,000 for the first time since US President Donald Trump took office on Jan. 20, as global markets reacted to rising competition in the AI sector and shifting monetary policies.
The world’s largest cryptocurrency by market capitalization dropped to as low as $98,046 on Jan. 27.
Much of the turbulence has been attributed to the rapid rise of China-based AI app DeepSeek, which claimed the top spot on Apple’s App Store rankings in the US, displacing ChatGPT to third place just a week after its launch.
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Author: Yohan Yun
