Editor's PiCK
[Analysis] "Bitcoin shows repeated pattern of weakness before and after NVIDIA earnings announcements"
Suehyeon Lee
Summary
- It was analyzed that Bitcoin (BTC) shows a recurring pattern of weakness before and after NVIDIA's earnings announcements.
- NVIDIA is a key stock in the tech-stock rally, and its earnings announcements are said to affect global risk-asset investor sentiment.
- It stated that Bitcoin is currently trading at $111,101.49, down 0.52% from the previous day.
Bitcoin (BTC) is showing a pattern of starting corrections before and after NVIDIA's earnings announcements, according to an analysis.
On the 28th (local time), virtual asset (cryptocurrency) analyst Ali Martinez said on X, "Bitcoin generally shows weakness starting about five days before NVIDIA's earnings announcement, and tends to decline on the day of the announcement and for 2~3 days afterward."
As NVIDIA has become a core stock of the tech-stock rally amid the AI boom, the analysis says that investor sentiment across global risk assets is affected around its earnings announcements.
Meanwhile, Bitcoin is currently trading on CoinMarketCap at $111,101.49, down 0.52% from the previous day.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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