Bitcoin declined below 88,000 dollars.

Sharp Drop in Bitcoin

The cryptocurrency rally in the U.S. on Wednesday morning quickly reversed. Bitcoin fell rapidly back to the $87,000 levels after surging above $90,000.

Nasdaq is Affected

At the same time, stocks of artificial intelligence-focused companies such as Nvidia, Broadcom, and Oracle experienced a sharp decline. This situation pulled the Nasdaq index down by more than 1%.