With renewed optimism in global financial markets, the price of Bitcoin (BTC) returned to the $90,000 level this Wednesday.
This bullish move coincides with the release of Nvidia’s earnings report, in which fiscal third-quarter results beat analysts’ expectations. Investor confidence in an asset (such as Bitcoin) or technology that is considered “risky.”
The following graph provided by CoinGecko shows the price of Bitcoin over the past 24 hours.
The company reported revenue of $57.01 billion, beating the consensus estimate of $55.19 billion. The data center division was the main driver, posting sales of $51.2 billion versus expectations of $49.34 billion.
As explained by CriptoNoticias today, Strengths in the technology fieldDriven by the demand for artificial intelligence, It tends to be positively correlated with appetite for Bitcoin.
Nvidia CEO Jensen Huang said demand for the company’s new Blackwell chips was “extraordinary” and noted that the industry has entered a “virtuous cycle of AI.”
This bullish sentiment was quickly reflected in the company’s stock, which rose more than 3% in post-market trading.
Historically, Strong performance of indices such as the S&P 500 —NVIDIA maintains overwhelming advantage— It creates a drag effect that benefits the price of Bitcoin.
In addition to the current performance, the company’s fiscal fourth quarter forecast was also decisive for the market. Nvidia expects revenue to be between $63.7 billion and $66.3 billion, significantly higher than the $61.98 billion expected by experts.
Despite your enthusiasm, it’s best to be cautious. The market will continue to pay close attention to whether this pace of growth is sustainable over the long term.
