The crypto market experienced a significant sell-off, with total liquidations nearing $1 billion, causing losses for bullish investors. Bitcoin's price dropped below $100,000, largely due to an imbalance in perpetual futures liquidations favoring long positions. The sell-off was triggered by the introduction of Deepseek, a cheaper competitor to ChatGPT, which led to a $500 billion decrease in Nvidia's valuation and affected broader markets, including the NASDAQ. CNBC's Cramer's bearish analysis coincided with a rebound for Bitcoin, leading to a surge in short liquidations. The market remains fragile, with BTC's price around key levels determining its future direction.



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