Crypto Market Trades Sideways Ahead of FOMC Minutes, Nvidia Earnings
Minutes from the Federal Reserve's FOMC meeting could shape expectations for the path of interest rates and risk appetite, while Nvidia's results are seen as a key test of enthusiasm for AI investment and momentum in U.S. equities. With both bitcoin and technology stocks sensitive to liquidity, investors turned cautious ahead of the two releases.
As of May 20, 2026, bitcoin had fallen more than 4% over the previous week and traded in a narrow range near $77,000 for a third straight day. It rebounded to $77,678 intraday before facing renewed selling during U.S. trading hours. The Fed was due to release minutes from its April 28–29 meeting that day, while Nvidia was set to report results for the first quarter of fiscal 2027. The U.S. 10-year Treasury yield fell 9.3 basis points to 4.576%, temporarily supporting risk assets.
All Coverage
2 original reportsThe Backstory
The history behind this eventBitcoin Rally Falters Ahead of Fed Rate Decision as Markets Await Powell's Inflation Remarks
Bitcoin is highly sensitive to expectations for U.S. interest rates and liquidity, while Federal Reserve rate decisions often drive crypto-asset valuations. Markets are now focused on how Chair Jerome Powell will assess changes in inflation and oil prices. His remarks could shape expectations for rate cuts and determine whether capital continues flowing into risk assets.
Bitcoin briefly touched $76,000 ahead of the Federal Open Market Committee's April 29 decision before retreating to around $74,000, including a short-lived intraday drop below $75,000. Ether, meanwhile, approached $2,200. Traders turned cautious and watched for signs of a hawkish tilt in Powell's post-meeting comments.
NVIDIA Earnings Lift Crypto Market, but Bitcoin Fails to Hold $70,000
NVIDIA’s earnings are widely viewed as a barometer for AI and technology stocks. Its better-than-expected performance boosted risk appetite, with capital flowing beyond U.S. equities into crypto assets. Bitcoin again tested the $70,000 threshold, while Ether reclaimed $2,000, underscoring the increasingly close correlation between digital assets and major technology stocks.
U.S. stocks and crypto assets rallied after NVIDIA reported its results. Bitcoin briefly touched $70,000 intraday but failed to hold that level, while Ether climbed above $2,140 before retreating. The sudden rally triggered about $473 million in short liquidations. Shares of Circle and Coinbase also rose sharply, buoyed by earnings performance and business expansion.
Subscribe to Mark Radar Weekly
Every Friday, the week's strongest signals in your inbox. Unsubscribe anytime.