Bitcoin Declines Ahead of NVIDIA Earnings

Bitcoin fell below $95,000, with the Nasdaq 100 index also dropping for the second consecutive day as the market anticipates NVIDIA’s earnings report.

Bitcoin’s Current Status

Bitcoin (BTC) has declined to $93,690, which is a 13.3% drop from its peak this year. The Nasdaq 100 index experienced a three-day decline, reaching a low of 21,360, down 3.5% from its high earlier this month.

The Impact of NVIDIA’s Earnings

NVIDIA’s upcoming earnings report is expected to be pivotal for both Bitcoin and U.S. stocks, providing insight into the artificial intelligence industry. As the second-largest company by market cap at over $3.285 trillion, trailing only Apple, NVIDIA plays a key role in the tech sector and has significantly influenced the stock rally over the past two years. Analysts predict NVIDIA will report revenues of $38.15 billion, up 72% from the same quarter last year.

Market Concerns and Tariffs

Bitcoin and the Nasdaq 100 have fallen amid concerns regarding Donald Trump’s proposed tariffs, set to take effect on March 1. Tariffs on steel, aluminum, and a 25% tariff on Mexican and Canadian goods might increase inflation, prompting the Federal Reserve to maintain a hawkish stance, which typically negatively impacts risk assets like Bitcoin. James Toledano, COO of Unity Wallet, noted:

> “I think the sentiment and expectation around Bitcoin’s price is that it should be going stratospheric since President Trump took office on Jan 6th. But the reality is that the price has gone south, likely due to tariff trade wars, fragile peace talks in Eastern Europe, fears around DeepSeek’s impact on the US tech sector.”

Potential for Recovery

Technical analysis suggests Bitcoin might rebound this week. A falling wedge pattern has formed on the daily chart, indicating a possible bullish breakout as the two trend lines converge. Additionally, the MACD indicator signals a potential bullish crossover, historically a precursor to upward price movement. If a breakout occurs, BTC could retest the $100,000 mark soon.