$BTC
Bitcoin's recent price decline can be attributed to several factors:
1. Tech Sector Selloff: The emergence of DeepSeek, a Chinese AI startup offering affordable AI models, has led to a selloff in Western tech stocks. Bitcoin, often correlated with tech equities, has been affected by this trend.
2. Market Sentiment: Investors are exhibiting caution due to global economic uncertainties and potential financial crises, leading to reduced risk appetite and impacting assets like Bitcoin.
3. Regulatory Developments: Recent announcements from the U.S. administration regarding cryptocurrency policies have not met market expectations, leading to disappointment among investors.
These factors, among others, have contributed to Bitcoin's recent price decline.