Bitcoin, which lost 6% of its value in the last 24 hours, dropping to $55,746, caught attention for the reason behind the decline.

Bitcoin had a bad start to September. The declines in the crypto currency market were followed by major losses in the US and Asia stock markets.

Analysts who predicted a negative September days ago are now proving to be right with a worrisome abundance of reasons behind the decline.

Nvidia's scrutiny hits artificial intelligence altcoins

According to a Bloomberg report, the US Department of Justice has issued subpoenas to Nvidia Corp. and other companies as it seeks evidence that the chip manufacturer has violated antitrust laws. This has led to an escalation of the investigation into the dominant provider of artificial intelligence processors.

This movement caused a sharp decline in the Nasdaq market and also led to a decline in the cryptocurrency market. In particular, artificial intelligence-focused altcoin projects such as Render (RNDR), NEAR Protocol (NEAR), and The Graph (GRT) experienced losses of over 10%.

Japan and US influence continues

Japan, which has previously been the trigger for significant declines in Bitcoin and altcoins, has started to strain the market again with its recent statements about interest rate hikes.

On the other hand, it is thought that the non-farm payroll data to be announced by the US on Friday, September 6, has escalated tension in the market.

US stocks Nasdaq 100 and S&P 500 fell as much as 3.5% during this historically weak period in September. Japan's Nikkei index also lost more than 4%.

This situation stemmed from the renewed concerns about economic slowdown triggered by weak manufacturing data in the United States.