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.
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Bitcoin hit a new all-time high on Monday morning, surpassing the $123,000 mark and gaining over 4% during the day.
The U.S. dollar strengthened and Bitcoin surged to a new record, as investors shrugged off fresh tariff threats from President Donald Trump.
Bitcoin and other cryptocurrencies regained value following a ceasefire between Israel and Iran, bouncing back after steep losses during the 12-day conflict.
Donald Trump's media company has filed for a Bitcoin and Ethereum exchange-traded fund (ETF), prompting fresh concerns over potential conflicts of interest as the U.S. President remains active in both politics and cryptocurrency ventures.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
Israeli researchers have unveiled an artificial intelligence tool that can determine a person’s true biological age from tiny DNA samples with remarkable precision.
Germany's export slump since 2021 is largely driven by deep-rooted competitiveness issues, the Bundesbank warned in its latest report, calling for urgent structural reforms.
Hollywood star Sydney Sweeney is reportedly the top contender to become the next Bond girl, as director Denis Villeneuve and Amazon look to modernise the James Bond franchise.
Chinese automaker Chery has denied an industry-ministry audit that disqualified more than $53 million in state incentives for thousands of its electric and hybrid vehicles, insisting it followed official guidance and committed no fraud.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Slovakia has reported an outbreak of foot-and-mouth disease in the western Trnava region, prompting quarantine measures and raising concerns among farmers, authorities said on Wednesday.
Ukraine’s newly appointed Prime Minister Yuliia Svyrydenko announced on Thursday that her government will initiate a comprehensive audit of public finances aimed at securing “real savings” and improving the efficiency of state spending.
U.S. President Donald Trump is reportedly planning a visit to Pakistan in September, according to two local television channels citing sources familiar with the matter.
The UK government plans to lower the voting age to 16, enabling approximately 1.5 million 16 and 17-year-olds to vote in the next general election.
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