China Accuses Nvidia of Anti-Trust Breach, Shares Drop 3%

Bitcoin fell over 1.5% in the past two hours to around $114,900, pressured by pre-market weakness in Nvidia (NVDA), which dropped nearly 3%. The decline followed China’s market regulator alleging that Nvidia violated anti-monopoly laws during its 2020 acquisition of Israeli networking firm Mellanox Technologies. Specific details of the breaches have not been disclosed.

The sell-off in NVDA coincided with losses in AI-related crypto tokens, including ICP, RENDER, FET, and GRT, which fell more than 4.5% over 24 hours.

As the world’s largest publicly traded chip-maker, Nvidia often serves as a gauge for risk sentiment, influencing both equities and crypto markets. Bitcoin has historically tracked NVDA closely, with a three-month rolling correlation of 0.76 to BlackRock’s spot bitcoin ETF, according to Macroaxis.