Bitcoin Updates: Bitcoin Surges While Stock Markets Lag as Nvidia's Results Determine AI Industry Outlook
- Bitcoin surged 4% to $93,700 on Nov. 18, outperforming a 1.5% Nasdaq drop as investors awaited Nvidia's Q3 earnings. - Weak institutional demand and a -$114 Coinbase premium gap signaled hesitation, keeping Bitcoin range-bound near $91,500 support. - Nvidia's $500B chip order forecast fueled AI optimism, but 10% stock declines this month raised overvaluation concerns. - Altcoins and crypto equities gained as tech stocks fell, highlighting crypto's brief risk-on appeal amid AI sector uncertainty. - Nvidia
Bitcoin Jumps While Stocks Falter Ahead of
On Nov. 18, Bitcoin bounced back sharply, rising 4% to reach $93,700 after earlier dropping below $90,000,
The recovery occurred as
Nvidia’s third-quarter earnings, set for release Wednesday, have become a central focus for investors. The chip giant’s results are widely viewed as a gauge for the broader AI industry, which has powered much of this year’s market gains.
The selloff in tech stocks created an opening that Bitcoin temporarily filled. Other cryptocurrencies such as
Nvidia’s reach goes beyond its own shares.
Despite the upbeat outlook, obstacles remain. Analysts note that falling AI chip prices and production challenges have squeezed profit margins.
As the crypto market waits for Nvidia’s earnings, the dynamic between AI-driven tech stocks and digital assets will remain a central story. For now, Bitcoin’s brief lead highlights the fragility of risk appetite in a market where even the strongest sectors are vulnerable to profit-taking and cautious trading
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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