比特币下降到$ 97.8K，因为DeepSeek-R1提出了有关AI估值的问题

由上周的Omkar Godbole（除非另有说明），我们将比特币高于100,000美元，为一个盘绕的弹簧，准备沿任一方向释放能量。

Bitcoin dropped below $98,000 on Monday as market sentiment shifted in response to concerns over the impact of low-cost Chinese artificial intelligence (AI) startup DeepSeek on the U.S. AI sector.

由于对低成本中国人工智能（AI）初创企业对美国AI行业的影响的担忧，比特币周一下跌了98,000美元，因为市场情绪转移了。

Bitcoin dropped to as low as $97,800 during Asian trading hours, with large sell-offs of up to 40% seen in GPU-heavy AI tokens and sell pressure also hitting GameFi assets.

在亚洲交易时间内，比特币跌至97,800美元，大量抛售在GPU重度AI代币中看到了40％，并且出售压力也达到了Gamefi资产。

Nasdaq futures tanked 700 points, with shares in chipmaker Nvidia (NASDAQ:NVDA) indicated 10% lower in pre-market trading. DeepSeek-R1 is expected to reduce the costs of developing large language models by a factor of 100, raising questions on the validity of the rich valuations for AI-associated companies like Nvidia.

纳斯达克期货（NASDAQ Futures）赢得了700点，在Chipmaker Nvidia（NASDAQ：NVDA）的股票中表示，预售交易的股票低10％。预计DeepSeek-R1将使开发大语模型的成本减少100倍，从而提高了有关Nvidia等AI-Compatied Companies的富裕估值有效性的问题。

“The problem is, few understand how DeepSeek changes things,” trader and analyst Alex Kruger noted on Twitter (NYSE:TWTR). “it's hard to quantify the issue—and when facing uncertainty, people derisk. When this happens in low liquidity conditions, the market flushes hard.”

“问题是，很少有人了解DeepSeek如何改变事物，” Trader和分析师Alex Kruger在Twitter（NYSE：TWTR）上指出。 “很难量化这个问题，并且在面对不确定性时，人们很难。当这种情况下在低流动性条件下发生时，市场就会艰难地冲洗。”

Kruger is opting not to buy the dip, telling his followers that he prefers to short positions above $100,000 as he anticipates heightened volatility from the upcoming Fed meeting and potential political maneuvering from President Donald Trump. The Fed is expected to reiterate its wait-and-see approach, maintaining its hawkish December guidance on interest rates.

克鲁格（Kruger）选择不购买蘸酱，并告诉他的追随者，他更喜欢超过100,000美元的短职位，因为他预计即将举行的美联储会议和唐纳德·特朗普总统的潜在政治动作会增加波动。预计美联储将重申其等待方式，并维持其霍克（Hawkish）12月的利率指南。

Still, all is not lost. Paul Howard, Senior Director at Wincent, told CoinDesk that institutional participation could ramp up in the coming months.

尽管如此，一切都没有丢失。 Wincent的高级总监保罗·霍华德（Paul Howard）告诉科德斯克（Coindesk），机构参与可能会在未来几个月内增加。

“The next wave up will likely come from organic participation from institutions in the next 3-4 months. I'd be surprised to see a sharp bounce back to all-time highs before Q2,” he said in an email.

“下一波浪潮可能来自未来3-4个月的机构的有机参与。我很惊讶地看到第一季度之前的急剧弹跳回到有史以来的高点。”他在一封电子邮件中说。

“For long-biased funds, discovering alpha in a bearish market involves seeking out low market-cap layer-1s,” he added. “The market will likely continue to favor layer-1 protocols with a focus on security and transactions per second, like SUPRA. Stay alert!”

他补充说：“对于长期偏见的资金，在看跌市场中发现阿尔法涉及寻找低市场帽1层。” “市场可能会继续偏爱1层协议，重点是每秒安全性和交易，例如同上。保持警惕！”