Here’s what happened in crypto today

Today in crypto, the launch of a Chinese-based AI rival to ChatGPT has resulted in market jitters and a Bitcoin dip below $100,000 for the first time since Donald Trump was inaugurated as US president, a group of Ethereum leaders committed to a new scaling strategy, and MicroStrategy’s Michael Saylor posted a Bitcoin tracker for the 12th week in a row.Bitcoin falls below $100,000 for the first time under Trump presidencyBitcoin fell below $100,000 for the first time since US President Donald Trump took office on Jan. 20, as global markets reacted to rising competition in the AI sector and shifting monetary policies. The world’s largest cryptocurrency by market capitalization dropped to as low as $98,046 on Jan. 27.Much of the turbulence has been attributed to the rapid rise of China-based AI app DeepSeek, which claimed the top spot on Apple’s App Store rankings in the US, displacing ChatGPT to third place just a week after its launch.“The hype around DeepSeek and broader volatility in the US AI market has spooked investors, leading to a flight to safety,” Alvin Kan, chief operating officer at Bitget Wallet, said in a statement shared with Cointelegraph.“With the next Federal Reserve meeting approaching and expectations of no rate cuts, the market is pricing in a more hawkish tone, adding to the cautious mood,” Kan added.For the crypto market, around $864 million in positions were wiped out, with Bitcoin long positions pitching in $250 million alone, according to CoinGlass data.Ethereum leaders commit to based and native rollupsEthereum layer 2 executives said they’re willing to make Ethereum more unified by implementing “based” and “native” rollups, which they say could improve security while making the network less fragmented.On a Jan. 25 call with Ethereum founders and developers, Base lead Jesse Pollak said based rollups are “both a flexible and powerful tool that we’re going to be able to use for Base to make it more connected to Ethereum and increase the security guarantees that it provides.”Ethereum layer 2 networks like Arbitrum, Optimism and Base have made big money from fees by implementing high-speed, centralized sequencers — the order in which transactions are processed and added to a block on the blockchain.Based rollups return this process to the base layer and improve the network’s decentralization because the block-building process would be carried out by all Ethereum validators as opposed to a single, centralized sequencer.Optimism Foundation Director Ben Jones added that base rollups would improve the collaboration between Ethereum’s base layer and layer 2s.“I want to just reemphasize we are here to support this, it is war time,” he said.​​Saylor posts Bitcoin tracker for 12th consecutive weekMicroStrategy co-founder Michael Saylor posted the Bitcoin tracker for the 12th consecutive week. The executive typically posts the chart on Sunday before acquiring more Bitcoin (BTC) the following day.“Don’t stop thinking about tomorrow,” Saylor wrote to his 4 million followers on the X social media platform.The company’s most recent Bitcoin acquisition of 11,000 Bitcoin on Jan. 21 brought MicroStrategy's total holdings to 461,000 BTC, valued at approximately $48.4 billion.According to SaylorTracker, MicroStrategy's Bitcoin investment has gained roughly 65% over time, and the company is currently sitting on unrealized capital gains of over $19 billion.