Bitcoin's price slipped below $100,000 on Monday, down from its all-time high of nearly $110,000 earlier this month, as markets reacted to the rising prominence of Chinese AI app DeepSeek.

Earlier, it was known that Chinese AI startup DeepSeek climbed to the top of Apple's App Store rankings in the US with its flagship R1 model, shaking global tech and financial markets. Released on January 20, R1 challenges Silicon Valley's dominance by achieving competitive performance with significantly lower costs.

At 2:52 am ET, Bitcoin was down 3.26%, going for $99,207.81. At the same time, Ethereum slid 4.74%, selling for $3,078.