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Here are five key news stories in the cryptocurrency market as of January 27, 2025:
🤯 Sharp drop in prices of major cryptocurrencies:
$BTC has fallen 6.5% in the last 24 hours, falling below the $100,000 mark and trading at around $98,300.$ETH also fell 8.7%, holding at around $3,050. Other major cryptocurrencies such as Solana (SOL) and XRP lost 13.4% and 12.2% respectively.
🇨🇳 The impact of Chinese developments in the field of artificial intelligence on the crypto market:
The announcement by Chinese company DeepSeek of an open-source AI model capable of competing with ChatGPT has sparked market concerns. This coincided with a drop in cryptocurrency prices, which may indicate the impact of technology news on the crypto market.
❌ Brazil bans biometric data collection for cryptocurrency:
Brazil’s National Data Protection Agency (ANPD) has banned World Network from collecting biometric data in exchange for cryptocurrency, citing concerns that the offer could affect voluntary consent, especially among vulnerable populations.
🥷🏽 Actor Dean Norris' account hacked to promote cryptocurrency scam:
The account of the star of the TV series “The Beach” was hacked to promote the fraudulent memecoin DEAN. The token’s market value reached $8.43 million, after which it fell by 96%. This event emphasizes the need for caution and verification of information before investing in new projects.
📈 Record difference between spot and derivative Bitcoin prices on Binance:
Binance has recorded a significant difference between the spot and derivatives prices of Bitcoin. Analysts attribute this to traders' caution amid macroeconomic factors and expectations for data from the US Federal Reserve.
These events highlight the current volatility and sensitivity of the cryptocurrency market to external factors, including technological developments, regulatory decisions, and security issues.
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