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 surged to a new all-time high as expectations grow for U.S. interest rate cuts and regulatory moves favouring crypto investment, boosting investor confidence in the sector.
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.
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Timothée Chalamet won the Golden Globe for best male actor in a musical or comedy on Sunday for his role in Marty Supreme, beating strong competition in one of the night’s most closely watched categories.
Hawaii’s Kīlauea volcano is showing increased activity, with lava flowing from two summit craters and flames, smoke and ash rising from the caldera.
Bob Weir, the rhythm guitarist, songwriter and co-founder of the Grateful Dead, has died at the age of 78, his family has said.
Israel has sharply escalated its warnings to Lebanon amid rising regional tensions linked to Iran, according to a report by the Lebanese newspaper Nida Al Watan.
Finland and Sweden have called for tougher economic measures against Russia, proposing higher import duties, export restrictions, and an EU ban on Russian energy shipments.
Finance ministers from the G7 and partner nations met in Washington on Monday to discuss a potential price floor for strategic rare-earth metals and ways to secure their supply. Representatives from Australia, Mexico, South Korea and India also attended the talks.
NATO Secretary General Mark Rutte has said allied nations are discussing “next steps” to ensure the security of the Arctic, citing concerns that Russia and China could become more active in the strategically important region.
The U.S. has issued an urgent security notice calling all American citizens to leave Iran immediately, citing escalating protests, growing violence and widespread communication shutdowns across the country.
Apple will use Google’s Gemini artificial intelligence models for its revamped Siri voice assistant later this year, in a multi-year deal that strengthens the tech giants’ partnership and boosts Alphabet’s position in the race against OpenAI.
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