#DeepSeekImpact
I think there are two possible factors that caused this market drop. Bitcoin looks fine but Alts took much bigger hits and it's because of the thin liquidity on Altcoins and big players are more interested in Bitcoin.
DeepSeek affect
Could be possible market took the hit because of the deepseek Ai model launch. It significantly dropped Nvidia stock and as Nvidia is one of the biggest companies on S&P500 index. it caused the drop on other stocks as well. And we all know Crypto usually follows stocks so.
FOMC & Interest rate decision This week
FED fomc meeting is due this week and it will bring a lot of volatility in the market.
FED was cutting interest rates since Sep 2024 and we saw crypto and stock market surge since then. It is now likely that the FED will keep the interest rates unchanged this month based on the forecasted data.
This could also be the reason why market dumped right after the weekly open.