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.
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The history behind this eventBitcoin and Major Tokens Weaken as Nvidia Earnings Lift AI-Linked Assets
Bitcoin has recently decoupled from U.S. equities, fueling concerns that each rebound is peaking at a lower level. As Bitcoin fell below $67,000, major tokens including Ether and Solana also came under selling pressure. By contrast, Nvidia’s earnings strengthened the outlook for artificial-intelligence investment, prompting funds to rotate into AI-linked tokens such as Internet Computer and Bittensor.
In the latest trading, Bitcoin lost the $67,000 level while Ether and Solana also declined. Decred surged against the broader trend after changes to its treasury-spending rules. Following Nvidia’s better-than-expected quarterly results and strong outlook, Internet Computer, Bittensor and shares of Bitcoin miners with AI data-center exposure advanced, highlighting the rotation in capital.
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.
Bitcoin Breaks Above $66,000, Lifting Crypto Markets and Asian Stocks
Bitcoin and Ethereum had fallen for several consecutive days as investors grew concerned about AI stock valuations and the outlook for global risk assets. Cryptocurrencies often move with risk appetite in U.S. technology shares and Asian equities, making Bitcoin's ability to hold above $66,000 an important gauge of whether market confidence is recovering.
In the latest trading, Bitcoin surged above $66,000, while Ethereum returned to around $1,920, driving a rebound across crypto markets and Asian equities. Investors are now focused on NVIDIA's upcoming earnings and guidance for clues on whether momentum in technology stocks can continue and support the outlook for risk assets.
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