Bitcoin price drops below $100,000, triggering $855 billion in liquidations amid Deepseek AI market shock

Bitcoin It saw a sharp decline during Asian trading hours, falling below $100,000 as widespread market turmoil affected the broader cryptocurrency and stock markets.

according to Cryptocellite According to the data, Bitcoin fell more than 6% over the past 24 hours to a low of $97,000 before recovering to $99,290 as of press time.

The drop breaks The momentum that drove Bitcoin to an all-time high of $109,000 before US President Donald Trump opening. Analysts note that this downturn effectively signals the end of the Trump-induced rally that defined the market in late 2024.

Arthur Hayesco-founder of BitMEX, to caution For more declines. He noted that Bitcoin could briefly decline to between $70,000 and $75,000 but remain bullish in the long term.

Hayes expects Bitcoin to reach $250,000 before the end of the year, citing potential financial instability and renewed monetary easing as key catalysts.

Meanwhile, other major cryptocurrencies have mirrored Bitcoin’s path. EthereumBNP, Solana, XRP, DogecoinCardano each lost as much as 9%, reflecting widespread caution in the market.

The stock market also falls

Furthermore, the ripple effect of the cryptocurrency market decline was also evident in US stock indices, with Nasdaq 100 futures falling by more than 2%.

Al Qubaisi’s message estimated That US stock markets could lose $1 trillion in market value highlights the scale of investor concerns.

The company attributed the market turmoil to DeepSeek’s growing popularity, which pushed it to first place in the App Store and raised concerns about its impact on major American technology companies.

DeepSeek is a Chinese AI company whose free and open source R1 model outperforms OpenAI’s ChatGPT. Venture capitalist Marc Andreessen described The application is as follows:

“AI’s Sputnik Moment.”

Liquidation madness

Widespread fluctuations in the cryptocurrency market led to a wave of liquidations Data From CoinGlass it shows over $855 billion wiped out. This affected more than 313,000 traders.

According to the data, long-term traders – those who bet on rising prices – suffered the biggest losses, with losses amounting to $794 billion. On the other hand, short traders, who bet on falling prices, lost nearly $59 million.

Bitcoin traders faced the largest losses, with liquidations totaling about $259 million, including $247.5 million from long positions. Ethereum traders followed, recording $110 million in liquidations, with $104.8 million in long positions.

The largest single elimination event occurred in htxwhich involved a $98 million long position in BTC-USDT.

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