Bitcoin rose and then fell following Nvidia’s earnings release on Wednesday afternoon, mirroring the behavior of the broader market. The Silicon Valley chip behemoth posted better than expected results for its fourth quarter, briefly causing its stock to rise 1%, and caused Bitcoin to shoot above $70,000 for the first time in weeks.
That all changed on Thursday morning. Bitcoin sank to about $66,000, and Nvidia’s stock plummeted about 5%, dragging the S&P 500 and other major indexes down with it. Despite the tech company’s strong earnings, investors remain wary of a potential artificial intelligence infrastructure bubble.
