In these critical hours, the world watches with bated breath as both the Trump statements and essential minutes are eagerly anticipated. Meanwhile, artificial intelligence companies are making significant announcements about deals with Saudi Arabia, crucial for the necessary liquidity in these turbulent times. President Trump is also expected to make statements at an investment forum soon, with possibilities of discussing ways for AI companies to secure more cash. However, a rapid decline in Bitcoin (BTC) 
$76,830 has raised concerns. What exactly is happening in this volatile market?
The Cryptocurrency Decline
Bitcoin’s price has dropped to $89,600, and it appears to be breaking its recent lowest level of $89,253. It seems that short-term investors have turned the latest rally into another selling opportunity, indicating that the reversal wasn’t lasting. At the same time, Trump Media shares have plummeted to an all-time low, significantly impacted by the negativity surrounding cryptocurrencies, with a loss of wealth amounting to $5 billion.
Bitcoin hovers around $89,700, and Nvidia’s CEO, Huang, has announced plans to collaborate with Saudi Arabia on developing supercomputers. Amidst discussions about the AI bubble and cash shortages, this represents a positive development. Additionally, AMD and Cisco have declared their collaboration with Saudi-backed Humain to establish data centers totaling 100 megawatts, with Luma AI, a startup focusing on AI-based video production, as the venture’s first customer.
A breaking news announcement indicated that on Thursday, a member of Trump’s team will engage with companies for an AI export program. This might involve government incentives or other supportive programs to offset sales declines.
At 20:00, President Trump is set to speak, followed by the release of the Fed Minutes at 22:00, and Nvidia’s earnings report at 00:20. Strap in, as Nvidia is expected to experience at least an 8% movement. Such a shift in a $5 trillion company will undoubtedly ripple through all markets. Being a tech giant amid the AI discussions, this movement will directly impact cryptocurrencies. Closure below the $88,000 support could mean dire consequences for Bitcoin, with potential lows ranging from $86,000 to $74,000 in the worst scenario.
