Rakib Hasan
@rakib
šø Why is the crypto market crashing right now? In the past few hours, BTC has dropped over 5%, and major alts have dipped 8-10%. But this isnāt about the crypto market itself ā itās all about US stocks. Today, a sell-off started in the US stock market, triggered by none other than a Chinese AI startup called DeepSeek. This company is a competitor to ChatGPT, and rumor has it that their development cost less than $10M ā a fraction of ChatGPTās budget. Whatās even more intriguing? Today, DeepSeek became the #1 free app on the App Store, overtaking ChatGPT. For context: ChatGPT is currently valued at $157 billion, while DeepSeek is worth just 0.2% of that. This has caused major concern among US investors, leading them to question whether the market is overvalued ā and theyāve started selling aggressively. š This stock market sell-off is dragging crypto down with it. But donāt panic and sell your coins. Thereās always some FUD to shake the market. HODL tight and just wait.
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