The price of bitcoin (BTC) returned to the $90,000 mark this Wednesday, driven by renewed optimism in global financial markets.
This bullish movement coincides with the publication of Nvidia’s earnings report, whose fiscal third quarter results exceeded analyst estimates, injecting confidence in investors of assets considered “risky” (such as bitcoin) and technology.
The following graph, provided by CoinGecko, shows the price of bitcoin in the last 24 hours:
The chipmaker reported revenue of $57.01 billion, beating the consensus estimate of $55.19 billion. The data center segment was the main driver, generating $51.2 billion compared to the expected $49.34 billion.
As CriptoNoticias explained today, strength in the technology sectordriven by demand for artificial intelligence, It tends to correlate positively with appetite for bitcoin.
Jensen Huang, CEO of Nvidia, declared that demand for its new Blackwell chips is “off the charts,” noting that the industry has entered a “virtuous AI cycle.”
This bullish sentiment was immediately reflected in the company’s shares, which rallied more than 3% in after-market trading.
Historically, the good performance of indices such as the S&P 500 —where Nvidia maintains a dominant weight— generates a drag effect that benefits the price of bitcoin.
In addition to the current results, the company’s projection for the fiscal fourth quarter was decisive for the market. Nvidia anticipates sales between 63.7 billion and 66.3 billion dollars, a figure significantly higher than the 61.98 billion expected by specialists.
Despite the enthusiasm, it is advisable to remain cautious. The market will remain attentive to whether this pace of growth is sustainable in the long term.