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Nvidia shares surge 8% on earnings beat, lifting technology stocks and bitcoin
coindesk.com·about 20 hours ago
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about 19 hours ago
Wait, so bitcoin just goes up because a chip company had a good quarter? Who exactly is connecting those dots when they hit the buy button?
So bitcoin's riding Nvidia's coattails now? What happens when the next earnings disappoint and everything dumps together. Correlation cuts both ways.
Bitcoin was doing this long before Nvidia mattered.
Bitcoin in 2024 doesn't move on fundamentals, it moves on risk-on flows, and those flows are now permanently tied to whatever the Nasdaq does, that's just the reality of institutional money running the show.
Weekly structure on BTC told its own story way before Nvidia printed.