India, Jan. 28 -- Cryptocurrencies rallied and Bitcoin jumped above $103k in tandem with the rebound witnessed in global financial markets. Concerns about big tech's AI spending plans that followed the unveiling of Chinese AI startup DeepSeek's low-cost AI model had rattled world markets on Monday.
Overall crypto market capitalization increased 2 percent overnight to $3.5 trillion. The AI & Big data category also recorded a jump of 1.8 percent in market capitalization.
Bullish momentum reverberated across the crypto spectrum, with memes rallying 2.4 percent and DeFi adding 1.6 percent in market capitalization during the past 24 hours. Trading volume over the 24-hour period declined more than 18 percent to $138 billion. Bitcoin which had d...