Bitcoin (BTC-USD) and other cryptocurrencies took a sharp dip on Monday as the emergence of a new Chinese artificial intelligence (AI) model caused a global selloff in riskier assets. Bitcoin dropped by as much as 6.5% during the morning in London, marking its largest intraday loss since December 6. Other smaller cryptocurrencies like XRP and Solana saw even bigger losses, with XRP falling by 9% and Solana following a similar trend.

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