Bitcoin drops to a seven-month low, concerns about an AI bubble drag down the stock market again.

Bitcoin fell to a seven-month low, following overnight declines in the US stock market due to concerns about an AI bubble. Nvidia's stock price gave up its gains on Thursday, leading other technology stocks lower, after the company's financial report only briefly relieved concerns about excessive spending in the AI field. Analysts at Deutsche Bank stated in a report, "Continued uncertainties about the cryptocurrency market structure legislation being developed by Congress have exacerbated the unfavorable background of the cryptocurrency market." These analysts expressed concerns that with Bitcoin currently down over 30% from its high point, the market is worried about further forced liquidation, as retail investors may need to liquidate other assets to meet margin call requirements. Data from the London Stock Exchange Group shows that Bitcoin fell 2.5% to a low of $82,032.