DeepSeek’s AI Shakes Bitcoin

China’s AI startup DeepSeek has sent shockwaves through global markets, causing Bitcoin to drop below $100K as investors rethink AI’s impact on the tech industry. The company’s latest R1 model, developed for just $6 million, rivals top-tier U.S. AI models like those from OpenAI and Google—but at a fraction of the cost. As DeepSeek’s AI soars to the top of the App Store charts, markets have reacted swiftly. Tech stocks linked to AI tumbled, and Bitcoin, along with Ethereum, followed the downward trend.