Bitcoin Hits 7-Month Low as Renewed Fears Over AI Bubble Dent Stocks — Market Talk
Bitcoin falls to a seven-month low after declines in U.S. stocks overnight on renewed concerns over an AI bubble. Nvidia's shares handed back gains Thursday, leading other tech stocks lower, after its earnings only briefly allayed worries over heavy spending in AI. "Adding to the negative backdrop for crypto were lingering questions over the crypto market structure bill that's being worked on in Congress," Deutsche Bank analysts say in a note. With bitcoin now more than 30% below its peak, there are worries about further forced selling as retail investors might need to liquidate other assets to meet margin calls, they say. Bitcoin falls 2.5% to a low of $82,032, LSEG data show. ([email protected])