Bitcoin fell below $100,000 on Monday, reaching its lowest level in 11 days, as cautious sentiment weighed on the cryptocurrency market.
Bitcoin price dropped below the key $100,000 mark on Monday, reaching its lowest level in 11 days amid cautious sentiment in the cryptocurrency market.
At 1156 GMT, bitcoin was trading at $98,852.17, having fallen as much as 6% during the day to hit its lowest since Jan. 16 earlier in the session.
The decline comes as brisk demand for shares of Chinese AI startup DeepSeek sparked a selloff in Western AI-related stocks. Moreover, traders expressed disappointment that the Trump administration's initial announcements included limited attention to cryptocurrency.
Last week, President Trump issued an executive order to establish a working group for drafting new cryptocurrency regulations and exploring a crypto stockpile, but the market reacted with a muted response.
Broader market trends, including concerns about higher interest rates and a drop in Nasdaq futures, also impacted digital assets. U.S. Federal Reserve policymakers are set to meet this week, with rates widely expected to remain unchanged, but the outlook for prolonged higher rates continued to weigh on riskier assets.
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