Bitcoin Struggles While AI Tokens Surge Following Nvidia’s Earnings Beat
Bitcoin remains in a slump on Wednesday, while AI-related cryptocurrencies continue to gain momentum after Nvidia’s strong earnings report.
Market Highlights:
- Nvidia (NVDA) exceeded Q4 expectations, posting EPS of $0.89, slightly ahead of the $0.84 estimate.
- Revenue came in at $39.33 billion, beating forecasts of $38 billion.
- Q1 revenue projection of $43 billion topped the $42.3 billion consensus, though a gross margin forecast of 71% fell short of some expectations.
- Nvidia shares saw mixed movement after hours, with investors awaiting further details from the 5 PM ET earnings call.
Crypto Market Update
Bitcoin (BTC) remains under selling pressure, down nearly 5% in the past 24 hours, currently trading at $84,300. AI-related tokens, however, continued to outperform, registering modest gains despite the broader market downturn.
