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      DeepSeek ignites the AI market, where to Invest?
      Views 4.7M Contents 742

      Bitcoin Sinks 7% Intraday, Taking Down Cipher and Other Crypto Stocks in Risk-Off Move

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      Jerry Kronenberg joined discussion · Jan 27 16:09
      $Bitcoin (BTC.CC)$ fell nearly 7% intraday Monday to briefly drop below $100,000 – taking $Cipher Mining (CIFR.US)$, $IREN Ltd (IREN.US)$ and other crypto-related stocks down 10%-15% or more – as DeepSeek's emergence prompted an apparent risk-off move on Wall Street.
      BTC sank as much as 6.9% to $97,750.00 over the past 24 hours before partly recovering to trade at $101,366 shortly before 11 a.m. ET, down 3.5% on the day.
      The cryptocurrency apparently fell as risk-off sentiment gripped the market amid a major sell-off of tech stocks like $NVIDIA (NVDA.US)$, sparked by word of China's new DeepSeek AI system.
      NVDA fell as much as 13.7% to a $123.05 session low on fears that U.S. artificial-intelligence makers that many expect will rely on Nvidia's chips face a major threat from a newly unveiled system from China-based DeepSeek AI.
      The DeepSeek fears not only took down NVDA and Bitcoin, but also slammed shares of several crypto-related stocks.
      Companies seeing major percentage sell-offs as of shortly before 11 a.m. ET Monday included:
      -- $Cipher Mining (CIFR.US)$, down 18.3% to $4.82
      -- $IREN Ltd (IREN.US)$, which lost 18.2% to $10.89
      -- $Hut 8 (HUT.US)$, off 15.6% at $21.97
      -- $Bitdeer Technologies (BTDR.US)$, which shed 14.7% to $17.63
      -- $Riot Platforms (RIOT.US)$, trading 11.6% lower at $11.97
      Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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      Jerry Kronenberg
      Director of Financial Content
      Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
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