Bitcoin hit a seven-month low due to a tech-led selloff in U.S. stocks. Risk aversion increased over concerns about high valuations of AI-related stocks and key upcoming releases, including Nvidia earnings and the delayed U.S. nonfarm payrolls report. Following the end of the government shutdown, a flood of U.S. data will be released ahead of the Federal Reserve’s December meeting. Market pricing suggests uncertainty over another interest rate cut.

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