Bitcoin and various altcoins, including XRP, Solana, and Dogecoin, experienced significant declines of over 11% as a Chinese AI competitor triggered a global market correction. China introduced DeepSeek, an AI alternative to ChatGPT, which quickly surpassed its US counterpart as the top free app on the Apple App Store, leading to concerns about overvalued US tech projects. This competition raised doubts about the sustainability of US-based AI dominance, resulting in a pullback in tech stock investments and also impacting the cryptocurrency market. AI and blockchain-related tokens suffered losses of up to 41%, with even tokens with traction in AI applications experiencing declines. Ethereum, Solana, and XRP also saw declines in the range of 7% to 11.5%.



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