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The cryptocurrency market is experiencing significant turbulence following a sharp price decline and the unexpected launch of China’s AI app DeepSeek.
In a dramatic market shift， Bitcoin and other major cryptocurrencies have witnessed substantial price corrections over the past week. Bitcoin’s value dropped nearly 5.5%， falling below the critical $100，000 support level， triggering widespread market liquidations totaling $854.39 million within 24 hours.
Former BitMex CEO Arthur Hayes has raised alarm bells， warning investors of a potential ‘mini financial crisis’ that could drive Bitcoin’s price down to the $70，000-$75，000 range. This prediction comes amidst a broader market downturn where cryptocurrencies like Ethereum， XRP， Solana， and Cardano experienced losses ranging from 9% to 17%.
The market’s volatility appears to be multi-faceted. The debut of DeepSeek， China’s AI application， has reportedly spooked investors， creating additional market uncertainty. Market analyst Adam Kobeissi noted a ‘risk-off’ sentiment directly linked to the AI app’s launch.
Additional market dynamics suggest long-term Bitcoin holders have been reducing their positions， with over 75，000 BTC sold in the past week. This profit-taking behavior contributes to the current market instability.
However， not all experts agree with Hayes’ pessimistic outlook. Georgii Verbitskii， TYMIO’s founder， views the current correction as a natural market cooldown following the recent bullish rally. Verbitskii suggests a more modest correction to around $87，000 if Bitcoin continues trading below the $100，000 psychological resistance level.
The ongoing market fluctuations highlight the cryptocurrency sector’s inherent volatility and sensitivity to global technological and economic developments. Investors are advised to monitor market trends closely and maintain a diversified investment strategy.
As the crypto market continues to evolve， the interplay between technological innovations， geopolitical factors， and investor sentiment remains a critical aspect of understanding price movements and market dynamics.