PiCK
Bitcoin Reclaims $78,000 as Middle East Tensions Ease, Nvidia Results Boost Risk Appetite
Summary
- Bitcoin reclaimed the $78,000 level as easing tensions in the Middle East and strong Nvidia results lifted sentiment.
- Ether and other major altcoins, including XRP, also moved higher, trading at $2,143.31 and $1.38, respectively.
- Nvidia's first-quarter revenue of $81.62 billion, a surge in data center sales and its second-quarter revenue forecast of $91 billion helped improve risk appetite.
Forecast Trend Report by Period
Bitcoin reclaimed the $78,000 level as easing tensions in the Middle East and strong Nvidia results lifted risk appetite.
As of 9:55 a.m. on May 21 in Seoul, Bitcoin was trading at $78,005.09 on Binance's USDT market, up 1.63% from a day earlier. On Upbit's won market, it was up 0.57% at 115,604,000 won.
Major altcoins also moved higher, led by Ether. Ether traded at $2,143.31 on Binance's USDT market, up 1.49% from a day earlier, while XRP gained 1.59% to $1.38.
The rebound came as expectations for easing Middle East tensions grew after U.S. President Donald Trump said negotiations to end the war with Iran were in their final stage. Trump told reporters that talks with Iran were in the last phase and that a deal could be reached, though other measures were possible if no agreement was struck.
Improved sentiment toward risk assets following Nvidia's strong earnings also supported the advance. Nvidia said revenue in its fiscal first quarter, which covers February through April, totaled $81.62 billion, up 20% from the previous quarter and 85% from a year earlier.
Data center revenue jumped 92% from a year earlier to $75.2 billion, driving overall growth. Adjusted earnings per share came in at $1.87, above market expectations of $1.76.
Nvidia forecast second-quarter revenue of $91 billion.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
