Bitcoin and most altcoins experienced a significant decline, reaching their lowest point since Donald Trump's inauguration. The crypto market slump is attributed to several factors, including a risk-on sentiment among investors following the success of DeepSeek, a Chinese competitor to Anthropic’s Claude, ChatGPT, and xAI. Additionally, the market is anticipating the Federal Reserve's interest rate decision and expects a hawkish stance due to elevated inflation levels. Furthermore, the anticipation of earnings reports from major tech companies like Microsoft, Amazon, Meta Platforms, Apple, and Tesla is also contributing to the market decline. Bitcoin formed a bearish double-top chart pattern, but it remains above key moving averages, suggesting a continuing bullish trend.



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