The post 5 Reasons Behind Today’s Crypto Market Crash appeared on BitcoinEthereumNews.com.

Crypto market crash started during the early Asia hours on Monday, with the top three cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and XRP plunging 7-12%. The global crypto market cap also tumbled more than 7% from $3.61 trillion to $3.35 trillion, that’s $260 billion erased from the crypto market in just under 24 hours. Moreover, the Crypto Fear & Greed Index has dropped from Greed to Neutral at 55 today, indicating a slight negative sentiment among investors. Crypto Market Crash: Reasons Why Bitcoin, ETH, XRP & Altcoins Falling Sharply Bitcoin price today currently trades at $98K, down 7% in the last few hours. Other the other hand, ETH price has tumbled to $3000 and XRP corrects 12% to $2.78. The crypto market crash sees no signs of slowing as experts predicted further dropdown in prices. 1. China Releases DeepSeek – A Rival to OpenAI’s ChatGPT Chinese startup DeepSeek’s AI assistant overtook rival ChatGPT to become the top-rated free application on Apple’s App Store in the United States, reported Reuters on January 27. The DeepSeek-V3 model used Nvidia’s H800 chips for training, spending less than $6 million. DeepSeek has left a deep impression on Silicon Valley. As a result, US stock futures tied to S&P 500 slipped 1.30%, the Nasdaq 100 lost 2.3%, and the Dow Jones industrial average is down 0.80% due to panic today ahead of quarterly results due to be released this week by four of the “Magnificent 7” stocks. Forbes predicts that NVIDIA stock may fall as DeepSeek’s AI model challenge AI leadership of the United States with OpenAI’s ChatGPT. 2. FOMC Meeting and Donald Trump’s Tariff Traders are becoming more cautious amid rising inflation and strong jobs data indicated a robust United States economy. Concerns over inflationary tariffs under President-elect Donald Trump have also fueled a cautionary…

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Filed under: News - @ January 27, 2025 10:18 am