Bitcoin experienced a sharp decline, falling below the $100,000 mark for the first time in a week. The cryptocurrency dropped by more than 5%, reaching as low as $98,000, amid a broader selloff in the global crypto market. The downturn coincided with a slump in U.S. tech stocks, driven by concerns over competition from Chinese AI startup DeepSeek, which has introduced a cost-effective AI model. DeepSeek's AI app has also become the most downloaded on the U.S. App Store, surpassing ChatGPT. Nasdaq futures fell by 4%, while Bitcoin liquidations totaled $250 million over the past 24 hours. The broader crypto market saw a decline, with its market capitalization dropping to $3.4 trillion, and other major cryptocurrencies, including Ether and Solana, experiencing significant losses. The selloff follows a record high for Bitcoin just a week earlier, when it surpassed $109,000 on the day of Donald Trump's inauguration for his second term as U.S. president. Analysts attribute the volatility to investor concerns about U.S. dominance in AI, uncertainty over Federal Reserve policies, and a general risk-off sentiment in financial markets.