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DeepNewz, mobile.
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The cryptocurrency market experienced notable fluctuations following the announcements from DeepSeek, a Chinese AI firm. Bitcoin briefly surpassed $102,000 but stabilized at $103,000 after a 3% dip. Meanwhile, Ether and Solana faced larger declines. The AI firm's advancements have caused significant volatility in tech stocks, with companies like Nvidia among the hardest hit. Crypto miners were particularly affected, with Galaxy Digital's stock dropping 15.87% and Coinbase falling 6.71%. DeepSeek's AI model, which rivals ChatGPT, has raised concerns over the valuation of AI and its impact on the crypto sector. Mining stocks continued to decline for the second consecutive day, with RIOT down 4.37%, CLSK down 2.47%, and MARA experiencing a minor drop of 0.14%. DeepSeek's projections suggest a potential upside for Bitcoin, estimating prices could reach $150,000 under steady growth scenarios, with extreme conditions pushing it to $500,000.
📊 UPDATE: Crypto mining stocks have closed down for the second consecutive day after the US market was rocked by China’s DeepSeek AI model, triggering concerns about the overvaluation of the country’s AI scene. $RIOT: -4.37% $CLSK: -2.47% $MARA: -0.14% https://t.co/mhsUIatKOr
Miners Bleed Out, Big Tech Bounces - Ai Hype Meets Market Reality Crypto mining stocks are in freefall for the second day as Ai hype collides with valuation reality. DeepSeek’s $6M chatbot claim rattled markets, but the shakeout was overdue. RIOT down 4.37%, CLSK -2.47%, MARA… https://t.co/wMyoov1iJG
Ai Tokens & Mining Continue Bleeding While Big Tech Recovers Crypto mining stocks are getting wrecked for the second day straight while big tech dusts itself off after DeepSeek’s $6M Ai flex spooked markets. RIOT nosedived 4.37%, CLSK slipped 2.47%, and MARA barely flinched at… https://t.co/iorTse6OK3