TL;DR

• Bitcoin surged 5% after Nvidia drastically exceeded third-quarter revenue expectations.
• Nvidia CEO Jensen Huang dismissed “AI bubble” concerns and predicted long-term growth.
• US spot Bitcoin ETFs recorded positive inflows, breaking a five-day outflow streak.

Bitcoin is once again shaking up the market. The pioneering cryptocurrency jumped 5%, nearing the $93,000 mark, this time propelled by an unexpected player: Nvidia. The artificial intelligence chip giant reported earnings that significantly surpassed Wall Street’s third-quarter expectations.

In recent weeks, overall market sentiment had been dominated by fears of an imminent AI bubble burst. This fear translated into a correction for Bitcoin, which slipped towards $88,000, with $3 billion flowing out of cryptocurrency Exchange-Traded Funds (ETFs). However, Nvidia’s earnings impact on Bitcoin completely turned the narrative around.

Nvidia CEO Jensen Huang categorically refuted bubble concerns, stating that his company is driving long-term structural change. In fact, Huang described his forecast for the next quarter as “crazy good,” based on the confidence that corporate buyers like Amazon, Microsoft, and Meta are committed to multi-year AI infrastructure spending, reiterating the forecast of $500 billion in AI chip bookings through 2026.

The Direct Link Between AI and Crypto Sentiment

Nvidia’s stellar performance directly impacted cryptocurrency traders. AI-powered tech assets have become a key instrument for measuring liquidity and risk sentiment across all assets, including Bitcoin. A strong Nvidia signifies that confidence in technology and global liquidity are maintained, benefiting the digital asset class.

Jordan Jefferson, founder of DogeOS, asserted that Bitcoin’s foundation is now “more mature and more resilient than in previous drawdowns.” This sentiment was reinforced by investor actions. US spot Bitcoin ETFs managed to break a five-day consecutive outflow streak, recording an inflow of $75 million on Wednesday, according to DefiLlama data.

This shift in capital flow underscores that Nvidia’s earnings impact on Bitcoin acted as a catalyst to dispel short-term pessimism and generate hope for a sustained recovery.