Impact of DeepSeek
The Chinese artificial intelligence company DeepSeek has unveiled an innovative model that reduces development costs in AI, raising concerns about the valuation of U.S. technology companies. This led to declines in indices such as the S&P 500 and the Nasdaq 100, which fell by 2.15%, indirectly impacting the cryptocurrency market.
Profit-taking and bearish movements
Traders have taken hedge positions by buying put options at $95,000, anticipating a further decline in the short term.