{"id":683611,"date":"2025-01-27T12:30:03","date_gmt":"2025-01-27T12:30:03","guid":{"rendered":"https:\/\/ktsl888.com\/?p=683611"},"modified":"2025-01-27T11:59:02","modified_gmt":"2025-01-27T11:59:02","slug":"bitcoin-price-crashes-below-98000-heres-why","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-crashes-below-98000-heres-why\/","title":{"rendered":"Bitcoin Price Crashes Below $98,000: Here\u2019s Why"},"content":{"rendered":"

The Bitcoin (BTC) price has plunged below $98,000, retracing from $105,000 as low as $97,750 today, marking a sudden decline of as much as -6.8%. The rapid sell-off coincides with heightened volatility across both crypto and traditional markets, with multiple factors contributing to BTC\u2019s downward spiral.<\/p>\n

Why Is Bitcoin Down Today?<\/h2>\n

#1 DeepSeek\u2019s Surprise Impact On Tech Markets<\/strong><\/p>\n

The primary driver behind the broader risk-off sentiment appears to be the emergence of DeepSeek, a Chinese artificial intelligence (AI) platform whose swift rise and cost-effectiveness have rattled US tech giants. Renowned market commentary outlet The Kobeissi Letter posted<\/a> via X:<\/p>\n

\u201cNasdaq 100 futures are now down -330 POINTS since the market opened just hours ago as DeepSeek takes #1 on the App Store. This is how you know DeepSeek has become a major threat to US large cap tech. The stock market does not lie.\u201d<\/p>\n

DeepSeek reportedly competes with ChatGPT yet was developed at a fraction of the cost, using less advanced hardware. Benchmark tests indicate that DeepSeek is outperforming ChatGPT in categories such as AIME, MATH-500, and GPQA, igniting concerns that the dominance of US-based AI firms could be at risk.<\/p>\n

Related Reading: Spot Bitcoin ETFs Record Staggering $4.7 Billion In Seven-Day Inflow Streak \u2014 Details<\/a><\/div>\n

The Kobeissi Letter added:\u201cOpenAI \u2026 was valued at ~$157 BILLION in October 2024 \u2026 has ~22 TIMES more employees than DeepSeek. This is why markets have been blindsided.\u201d<\/p>\n

Traders fear that if investors pull capital out of overextended AI stocks, a broader tech sell-off could ensue. This has significant implications for the Bitcoin and crypto market as well because of its correlation. \u201cCrypto is front running as markets are closed & it’s a higher risk-beta asset class,\u201dcrypto analyst Miles Deutscher noted<\/a> via X.<\/p>\n

However, he sees a silver lining for Bitcoin and crypto once the AI stock boom subsides: \u201cIf DeepSeek is the knife that could (momentarily) burst the AI stock bubble, then this could actually be bullish for crypto, as liquidity rotates back. AI stocks sucked up a lot of speculative capital that previously would\u2019ve flowed into BTC\/crypto.\u201d<\/p>\n

#2 Pre-FOMC De-Risking<\/strong><\/p>\n

Another contributor to the current downswing is the commonly observed pre-FOMC<\/a> market de-risking. Historically, investors recalibrate their portfolios ahead of the Federal Open Market Committee meetings, scheduled for January 28\u201329, 2025. Although consensus indicates that interest rates may remain unchanged, riskier assets like Bitcoin and cryptocurrencies often face sell-pressure in the lead-up to such announcements.<\/p>\n

Deutscher commented:\u201cPre-FOMC de-risking (this is very normal, especially in an environment where we\u2019re extremely sensitive to rates\/U.S. dollar\/liquidity).\u201d<\/p>\n

Related Reading: Crypto Experts Forecast Bitcoin Market Peak: Bear Market Could Emerge Within 3 Months<\/a><\/div>\n

Deutscher also speculated on whether Federal Reserve Chair Jerome Powell might adopt a softer stance, given the recent transition of the US presidency: \u201cSo\u2026 if stocks are already in panic mode, is Jerome Powell really going to come out super hawkish? Right as Trump has just entered office? Idk\u2026 My prediction is that the pre-FOMC sell-off marks the local bottom.\u201d<\/p>\n

#3 Lack Of New Price Catalyst After Trump\u2019s Executive Order<\/strong><\/p>\n

Market participants also cite a perceived vacuum of fresh bullish news following last week\u2019s first-ever crypto executive order<\/a> by President Donald Trump. Although the order initially propelled crypto optimism, the absence of a new catalyst left traders wanting more. Deutscher referred to this as the \u201clack of short-term \u2018north star\u2019 after Trump\u2019s inauguration.\u201d<\/p>\n

#4 Long Liquidations Exacerbating The Move<\/strong><\/p>\n

According to Coinglass data<\/a>, a flurry of long liquidations has magnified the downward price action. 313,683 traders were liquidated in the past 24 hours. Total crypto liquidations hit $853.92 million, with $795.5 million in longs.<\/p>\n

The largest single liquidation order occurred on HTX for BTC-USDT valued at $98.46 million. On the Bitcoin market alone, $250 million worth of long positions were liquidated. The surge in liquidations<\/a> amplified BTC\u2019s fall, triggering more traders to unwind positions. Analysts view these forced liquidations as both a cause and a symptom of heightened volatility.<\/p>\n

At press time, BTC traded at $98,983.<\/p>\n

\"Bitcoin
Bitcoin plunges to $98,000, 4 hour chart | Source: BTCUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with DALL.E, chart from TadingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin (BTC) price has plunged below $98,000, retracing from $105,000 as low as $97,750 today, marking a sudden decline of as much as -6.8%. The rapid sell-off coincides with heightened volatility across both crypto and traditional markets, with multiple factors contributing to BTC\u2019s downward spiral. Why Is Bitcoin Down Today? #1 DeepSeek\u2019s Surprise Impact On Tech Markets The primary driver behind the broader risk-off sentiment appears to be the emergence of DeepSeek, a Chinese artificial intelligence (AI) platform whose swift rise and cost-effectiveness have rattled US tech giants. Renowned market commentary outlet The Kobeissi Letter posted via X: \u201cNasdaq 100 futures are now down -330 POINTS since the market opened just hours ago as DeepSeek takes #1 on the App Store. This is how you know DeepSeek has become a major threat to US large cap tech. The stock market does not lie.\u201d DeepSeek reportedly competes with ChatGPT yet was developed at a fraction of the cost, using less advanced hardware. Benchmark tests indicate that DeepSeek is outperforming ChatGPT in categories such as AIME, MATH-500, and GPQA, igniting concerns that the dominance of US-based AI firms could be at risk. Related Reading: Spot Bitcoin ETFs Record Staggering $4.7 Billion In Seven-Day Inflow Streak \u2014 Details The Kobeissi Letter added:\u201cOpenAI \u2026 was valued at ~$157 BILLION in October 2024 \u2026 has ~22 TIMES more employees than DeepSeek. This is why markets have been blindsided.\u201d Traders fear that if investors pull capital out of overextended AI stocks, a broader tech sell-off could ensue. This has significant implications for the Bitcoin and crypto market as well because of its correlation. \u201cCrypto is front running as markets are closed & it’s a higher risk-beta asset class,\u201dcrypto analyst Miles Deutscher noted via X. However, he sees a silver lining for Bitcoin and crypto once the AI stock boom subsides: \u201cIf DeepSeek is the knife that could (momentarily) burst the AI stock bubble, then this could actually be bullish for crypto, as liquidity rotates back. AI stocks sucked up a lot of speculative capital that previously would\u2019ve flowed into BTC\/crypto.\u201d #2 Pre-FOMC De-Risking Another contributor to the current downswing is the commonly observed pre-FOMC market de-risking. Historically, investors recalibrate their portfolios ahead of the Federal Open Market Committee meetings, scheduled for January 28\u201329, 2025. Although consensus indicates that interest rates may remain unchanged, riskier assets like Bitcoin and cryptocurrencies often face sell-pressure in the lead-up to such announcements. Deutscher commented:\u201cPre-FOMC de-risking (this is very normal, especially in an environment where we\u2019re extremely sensitive to rates\/U.S. dollar\/liquidity).\u201d Related Reading: Crypto Experts Forecast Bitcoin Market Peak: Bear Market Could Emerge Within 3 Months Deutscher also speculated on whether Federal Reserve Chair Jerome Powell might adopt a softer stance, given the recent transition of the US presidency: \u201cSo\u2026 if stocks are already in panic mode, is Jerome Powell really going to come out super hawkish? Right as Trump has just entered office? Idk\u2026 My prediction is that the pre-FOMC sell-off marks the local bottom.\u201d #3 Lack Of New Price Catalyst After Trump\u2019s Executive Order Market participants also cite a perceived vacuum of fresh bullish news following last week\u2019s first-ever crypto executive order by President Donald Trump. Although the order initially propelled crypto optimism, the absence of a new catalyst left traders wanting more. Deutscher referred to this as the \u201clack of short-term \u2018north star\u2019 after Trump\u2019s inauguration.\u201d #4 Long Liquidations Exacerbating The Move According to Coinglass data, a flurry of long liquidations has magnified the downward price action. 313,683 traders were liquidated in the past 24 hours. Total crypto liquidations hit $853.92 million, with $795.5 million in longs. The largest single liquidation order occurred on HTX for BTC-USDT valued at $98.46 million. On the Bitcoin market alone, $250 million worth of long positions were liquidated. The surge in liquidations amplified BTC\u2019s fall, triggering more traders to unwind positions. Analysts view these forced liquidations as both a cause and a symptom of heightened volatility. At press time, BTC traded at $98,983. Featured image created with DALL.E, chart from TadingView.com<\/p>\n","protected":false},"author":571,"featured_media":683845,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,656,679,89185,78790,91854,91855],"class_list":["post-683611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc-news","tag-btcusdt","tag-why-is-bitcoin-down-today","tag-why-is-bitcoin-price-down-today"],"acf":[],"yoast_head":"\nBitcoin Price Crashes Below $98,000: Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"The Bitcoin (BTC) price has plunged below $98,000, retracing from $105,000 as low as $97,750 today, marking a sudden decline of as much as -6.8%. 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