Bitcoin and other cryptocurrencies tumbled as the emergence of a new Chinese artificial intelligence model triggered a global selloff in riskier assets.
DeepSeek has produced an open-source AI model that could rival ChatGPT while being significantly cheaper to produce.
Much of the concern draws from a possible overvaluation in U.S. tech companies as DeepSeek’s latest AI model is significantly cheaper to produce and was built using open-source technology that is easy to access.
Chinese AI app DeepSeek's unexpected success triggered a broad market sell-off, leading to a $212 billion cryptocurrency market decline and pushing Bitcoin below $100,000 amid wider economic uncertainties.
DeFAI and AI agents turned into the biggest losers during the latest market drawdown. The space took a hit as the AI narrative lost speed and whales rolled over into older memes and other assets.
AI agent tokens AI16Z, ARC, GRIFFAIN led crypto market gains, buoyed by reports of a $500 billion private AI infrastructure investment deal orchestrated by Trump. Bitcoin posted 3% gain trading at $106,000 as the broader market awaits Trump's first crypto-specific policies.
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Bitcoin held steady while AI-focused tokens like AI16Z and VIRTUAL dominated gains after a major AI initiative was announced by President Donald Trump.
Following MicroStrategy's 11,000 BTC acquisition for $1.1 billion, bringing its overall holdings to 461,000 BTC, interest has turned to the potential
Bitcoin drops below $100K, sparking nearly $700M in crypto liquidations. Market fears over China’s DeepSeek AI weigh on tech stocks and cryptocurrencies.
Hopes that bitcoin can be a useful hedge from market turmoil are once again being dashed. The crypto currency is diving 4% to relinquish the $100K level as the sector is caught up in the broader market's risk off mood.