China’s latest artificial intelligence (AI), DeepSeek AI, has swept the financial markets, especially the crypto market. This record-breaking technology has caused a tremor in the fabric of some powerhouses and highly ranked cryptocurrencies worldwide.
A major victim of this latest development is Bitcoin, whose market price dipped to the $98,000 level following the release of the latest DeepSeek model, which many believe could rival OpenAI.
Moving on to the latest price action and comprehensive price analysis of Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB).
Bitcoin (BTC) Price Analysis
Bitcoin has witnessed a short rebound and is trading at approximately $102,717, following a quick dip into the $98,000 price level for the first time since President Donald Trump’s inauguration.
This fluctuation is partly because of the release of China’s latest AI tech (DeepSeek AI), which has had a notable influence on the crypto market in the last 24 hours.
Bitcoin (BTC) traded as low as $97,777 on Monday, January 27th, 2025, the lowest within 10 trading days. This led to mass liquidation across the crypto market, totalling about $860.5 million in the last 24 hours.
Following this bearish price action, technical outlooks hint at a further decline into the $90,000 support level after the price hit its all-time high (ATH) of $109,588 the previous week.
Ethereum (ETH) Price Prediction
Recent price action shows Ethereum bouncing at the $3000 support/psychological level. As of this writing, the asset is trading at $3,216.
Solana has recently gained a lot of attention with the launch of the $Trump and $Melania memecoin. However, this has only spelt a decline for Ethereum as it struggles to keep investors’ attention.
Since the beginning of the year, Ethereum has seen a 3% decline, and current price action suggests more decline. If Ethereum experiences more selling pressure, we could expect a break below the $3000 support level, which has held its ground since May 2024, into the $2700 support region.
Binance Coin (BNB) Price Analysis
As the recent bearish phase of crypto continues, BNB is not left out. BNB traded from its all-time high of $793.86 to the $645 price level, which has offered it a breather and support.
This support level is also in tandem with an ascending trendline. If these levels hold, we could expect a bullish leg in the $710 price region.
READ MORE: Crypto Price Analysis – Solana (SOL), Sui (SUI), Ripple (XRP)
