Ahead of Nvidia earnings announcement… Bitget CEO "Cryptocurrencies also directly affected"
Summary
- The Bitget CEO said Nvidia's Q3 results announcement would directly affect the cryptocurrency market.
- She said Nvidia's role as AI infrastructure and global risk asset preference cause liquidity to flow into the cryptocurrency market.
- She emphasized that in a risk-on atmosphere funds flow into cryptocurrencies first, and in the opposite case cryptocurrencies are the first to come under pressure, making risk asset investor sentiment important.
Analysts say Nvidia's third-quarter results announcement this year will also have a direct impact on the cryptocurrency market.
Gracy Chen, CEO of global cryptocurrency exchange Bitget, said on the 19th (local time) on X that "Nvidia's third-quarter results are a key signal for the cryptocurrency market," adding, "Nvidia is no longer a simple semiconductor company but the core of global artificial intelligence (AI) infrastructure." Chen said, "The liquidity flow from Nvidia to the U.S. tech sector, global risk asset preference, and cryptocurrencies is very clear," and "Nvidia's results will directly affect risk asset investor sentiment."
Chen emphasized, "Cryptocurrencies are now deeply connected to Wall Street and global liquidity." Chen said, "When a risk-on (Risk-On·risk asset preference) atmosphere returns, funds flow into cryptocurrencies first," and "Conversely, when risk asset preference weakens, cryptocurrencies are also the first to come under pressure." She added, "This chain reaction is why Nvidia's results announcement is important."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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