Bitcoin Price Slips as Nvidia Shares Drop 3% Amid China Probe

Bitcoin's ([BTC](https://holder.io/coins/btc/)) price has been declining in the past two hours, coinciding with a nearly 3% drop in Nvidia ([NVDA](https://www.wsj.com/tech/china-probe-says-nvidia-violated-antitrust-laws-4acf344c/)) shares during pre-market trading.
The decline follows China's market regulator accusing Nvidia of violating anti-monopoly laws during its 2020 acquisition of Mellanox Technologies.
Specific details of the violations have not been disclosed.
The weakness in NVDA is reflected in the crypto market, with [BTC](https://holder.io/coins/btc/) trading around $114,900, down from a high of $116,755 earlier today.
AI-related tokens like ICP, RENDER, FET, and GRT are also down over 4.5% on a 24-hour basis.
Nvidia, as the largest publicly listed chip-maker by market value, serves as a barometer for risk sentiment across financial markets, including cryptocurrencies and AI-related tokens.
Historically, Bitcoin has moved in tandem with NVDA, sharing a concurrent bottoming out in late 2022 before a significant bull run.
The rolling three-month correlation between NVDA and BlackRock's spot Bitcoin ETF was 0.76 as of Friday, per Macroaxis data.