Bitcoin, Crypto Tumble Amidst Nvidia Stock Drop and Fed Speculation

Following a sharp decline in Nvidia’s stock price before the start of trading today, Bitcoin and other cryptocurrencies witnessed a market downturn. The tech giant experienced a 7% plunge, with the drop attributed to its anticipation of an estimated $5.5 billion financial hit due to U.S. export restrictions on H20 chip sales to China. 3.2% decline in the 24-hour period brought Bitcoin’s market capitalization down to $2.62 trillion according to CoinMarketCap, while Ethereum, XRP, and Solana saw further declines of 4%, and more than 5% respectively. The Nasdaq also suffered a significant drop, mirroring these market fluctuations.