The Bitcoin price has plummeted below $98,000, marking a 6.8% decline attributed to multiple factors.
The emergence of DeepSeek, a cost-effective Chinese AI platform, has sparked concerns among US tech giants and contributed to market volatility.
Additionally, the pre-FOMC de-risking process and a lack of new bullish catalysts in light of Trump's recent executive order have impacted BTC.
A surge in long liquidations further exacerbated Bitcoin's downward trajectory, intensifying market stress.