The cryptocurrency market is once again at a crossroads, with Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) showing signs of potential downward corrections. After months of bullish rallies driven by institutional interest and favourable macroeconomic conditions,
LONDON: Bitcoin fell below $100,000 on Monday, hitting its lowest in 11 days, in a move analysts attributed to a wave of caution after the surging popularity of a Chinese artificial intelligence model sparked a selloff in Western AI-related stocks.
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Bitcoin fell over 6.5% to below $98,000 as traders took profits after Trump’s executive order identified the crypto industry as vital for US innovation.
Bitcoin price stood at $100,894.04, registering a 24-hour dip of 4.17 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 86.88 lakh. ETH price stood at $3,165.55 marking a 24-hour loss of 5.72 percent at the time of writing. Ethereum price in India stood at Rs 2.73 lakh.
Bitcoin fell below $100,000 for the first time since US President Donald Trump took office on Jan. 20, as global markets reacted to rising competition in the AI sector and shifting monetary policies. The world’s largest cryptocurrency by market capitalization dropped to as low as $98,046 on Jan. 27.
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