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Bitcoin has ‘nothing to do’ with DeepSeek. Here’s why its price tumbled anyway. - MarketWatch

1. Bitcoin fell below $100,000 influenced by tech selloff from DeepSeek. 2. The largest cryptocurrency recovered slightly, trading around $101,518. 3. Bitcoin's correlation with tech stocks peaked at 0.5, impacting investor sentiment. 4. Analysts indicate bitcoin consolidation prevents bullish momentum without clearer narratives. 5. Recent executive orders hint at a potential U.S. strategic bitcoin reserve.

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FAQ

Why Bearish?

The tech selloff directly impacted Bitcoin, indicating market sentiment weakness historically leads to declines.

How important is it?

The article discusses market dynamics that directly influence Bitcoin prices, underscoring its correlation with tech assets.

Why Short Term?

Current market dynamics suggest immediate reaction; long-term effects depend on strategic reserve developments.

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