Bitcoin (BTC) experienced a 10% drop from its all-time high, leading to concerns about the future of the bullish market. This decline was attributed to worries over China's DeepSeek Artificial Intelligence model competing with the U.S. industry at a much lower cost. However, previous corrections during the recent rally have also seen similar drawdowns. A key indicator to watch is the short-term holder cost basis, which currently stands at $91,000. If BTC falls below this level, it could strain the bullish trend. Negative funding rates for bitcoin and predictions of a correction from industry experts like Arthur Hayes and Omkar Godbole further contribute to the bearish sentiment. The impact of this drawdown has extended beyond crypto, with U.S. markets also experiencing a sell-off.



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