Bitcoin fell below $100,000 on Monday, hitting an 11-day low as market caution spiked following the debut of a Chinese AI model that triggered a selloff in Western tech stocks.
The world’s largest cryptocurrency, which recently rallied past $100,000 after U.S. President Donald Trump’s election, lost momentum last week. By 11:56 GMT, Bitcoin was trading at $98,852.17, down 6% for the day and marking its lowest level since January 16.
The decline mirrored a sharp drop in tech stocks, as investors reacted to concerns that Chinese startup DeepSeek's AI model could challenge Western dominance in the sector. Analysts referred to this as AI’s “Sputnik moment,” comparing it to the 1950s space race ignited by the Soviet Union’s launch of a satellite.
"Bitcoin’s losses appear tied to risk-off sentiment across markets due to DeepSeek," noted Simon Peters, an analyst at eToro. Geoffrey Kendrick, global head of digital asset research at Standard Chartered, said Nasdaq futures' decline negatively impacted crypto markets, while disappointment over the Trump administration’s crypto-related announcements further fueled the selloff.
President Trump’s executive order last week created a working group to develop crypto regulations and explore a cryptocurrency stockpile. However, crypto investors were disappointed when the topic was largely absent from Trump’s initial day-one policy announcements. The SEC also recently shelved accounting guidance that the crypto industry had criticized for hindering adoption.
Rising concerns over interest rates staying higher for longer added pressure on risk assets, noted Thomas Puech, CEO of digital asset hedge fund Indigo. The U.S. Federal Reserve is set to meet this week, with expectations it will maintain current interest rates.
US President Donald Trump has signed an executive order establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, under the Treasury Department.
Bitcoin and ether, the two largest cryptocurrencies by market capitalization, plunged to multi-month lows on Tuesday amid a broad market sell-off and heightened uncertainty following last week's hack that siphoned $1.5 billion in ether from the crypto exchange Bybit.
Bitcoin surged 2.5% to $104,736 after Trump’s executive order on cryptocurrency, while Ethereum rose 4%. Market cap hit $2.07T amid regulatory and tech advancement plans.
Bitcoin has hit a new all-time high, peaking at $109,241 before settling at $108,096.98 (+2.84%), according to Binance data.
The U.S. dollar held close to a three-week peak against major currencies on Monday, as investors braced for a slew of central bank decisions expected this week. Markets are all but certain that the Federal Reserve will cut interest rates by 25 basis points on Wednesday, while also signaling a slower
The European Commission has called for enhanced preparedness across Europe, urging improved stockpiling of critical supplies and encouraging citizens to maintain emergency provisions for at least 72 hours.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, highlighted the potential for international investors, particularly from the Global South, to contribute to the development of Russia's Arctic region, driven by the opening of the Northern Sea Route due to global warming.
Israeli citizens have protested outside the Knesset and Prime Minister’s residence against a controversial law that would alter the judicial appointment committee, a move critics warn could shift power within the judiciary and spark a constitutional crisis.
Britain's proposed assisted dying law for terminally ill individuals may be delayed until 2029, following amendments to the legislation that extend the timeline for implementation and add new safeguards, with the bill still needing approval from both the House of Commons and the House of Lords.
The European Union’s enlargement process continues to move forward, but without mention of Georgia. In a speech at the European Policy Center in Brussels on March 25, European Council President Antonio Costa highlighted the EU’s commitment to integrating Ukraine, Moldova, and the Western Balkans.
Sweden’s Prime Minister Ulf Kristersson stated on Thursday that purchasing U.S. weapons does not pose a security risk for his country, but emphasized the need for Europe to reduce its reliance on American defense systems. His comments come amid growing discussions within Europe.
Royal Australian Air Force (RAAF) pilots, monitoring a Chinese navy warship as it navigated Australian waters, were alerted to a live-fire exercise via a civilian radio broadcast, defense officials revealed on Tuesday.
Mexican forces have dismantled a massive meth lab in Zacatecas, dealing a blow to a Sinaloa Cartel faction.
Serbia’s parliament has officially accepted the resignation of Prime Minister Milos Vucevic, setting a 30-day deadline for the formation of a new government or the calling of snap elections.
A devastating overnight drone attack on Kyiv, attributed to Russian forces, resulted in the deaths of three people, including a five-year-old child, and left ten others injured.
FIFA announced that the winners of this year’s 32-team Club World Cup, set to take place in the U.S. from June 14 to July 13, will receive up to $125 million in prize money, as part of a total prize pool of $1 billion for the tournament.
A South Korean appeals court has cleared opposition leader Lee Jae-myung of election law violations, overturning a previous conviction that could have hindered his presidential aspirations, though prosecutors plan to appeal the ruling.
China is expected to remain the top investor in chipmaking equipment in 2025, despite a 24% year-over-year decline, with global semiconductor investments rising 2% to $110 billion, driven by the growing demand for AI chip production.
German Finance Minister Joerg Kukies will travel to the United States on Wednesday to meet with U.S. counterpart Scott Bessent and officials from the IMF and World Bank, focusing on strengthening economic ties and addressing global financial challenges.
Italy is conducting a study of its space and satellite communications market, with the possibility of issuing a call for tender later this year, signaling the country’s growing interest in expanding its role in the satellite communications sector.
The European Commission has called for enhanced preparedness across Europe, urging improved stockpiling of critical supplies and encouraging citizens to maintain emergency provisions for at least 72 hours.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, highlighted the potential for international investors, particularly from the Global South, to contribute to the development of Russia's Arctic region, driven by the opening of the Northern Sea Route due to global warming.
Israeli citizens have protested outside the Knesset and Prime Minister’s residence against a controversial law that would alter the judicial appointment committee, a move critics warn could shift power within the judiciary and spark a constitutional crisis.
Britain's proposed assisted dying law for terminally ill individuals may be delayed until 2029, following amendments to the legislation that extend the timeline for implementation and add new safeguards, with the bill still needing approval from both the House of Commons and the House of Lords.
The European Union’s enlargement process continues to move forward, but without mention of Georgia. In a speech at the European Policy Center in Brussels on March 25, European Council President Antonio Costa highlighted the EU’s commitment to integrating Ukraine, Moldova, and the Western Balkans.
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