$ETH

Bitcoin is having a hard time holding the $100k range, so it is retesting the blue diagonal as support once again.

This blue diagonal is a key trend indicator, so as long as it holds, we might avoid further downside into the lower $90k range.

The recent drop isnโ€™t due to the crypto market but a sharp decline in U.S. stocks. Itโ€™s all because of one app: DeepSeek.

Why is everyone panicking?

DeepSeek is a Chinese AI startup that surpassed ChatGPT and took the top spot on the App Store.

Its development cost was under $10 million (compared to billions for ChatGPT).

Meanwhile, ChatGPT is valued at $157 billion, while DeepSeek is worth just 0.2% of that amount.

This has made major players question whether U.S. stocks are heavily overvalued, leading to a wave of profit-taking after the market opened. Additionally, with Chinese New Year around the corner, many in China are cashing out their positions.

Donโ€™t give in to panic. News like this always shakes up the market, but crypto has weathered far worse before ๐ŸŒš