Cryptocurrency markets gave back part of their recent gains on Thursday as U.S. equities turned lower following Nvidia’s earnings reaction. While the chipmaker delivered strong quarterly results, Wall Street’s lukewarm response weighed on tech stocks – and crypto followed.
Bitcoin dipped about 1.5% over the past 24 hours to trade near $67,000, though it remains modestly higher on the week and well above levels seen before Wednesday’s rally.
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Strong Earnings, Weak Reaction
Nvidia beat expectations on both revenue and earnings and issued guidance above analyst forecasts. However, shares fell more than 4% as investors questioned how much upside remains in the AI trade and whether growth can sustain its current pace.
The Nasdaq slid sharply following the earnings reaction, reflecting broader uncertainty around technology valuations and the durability of AI-driven momentum.
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Crypto Mirrors Tech Sentiment
Ethereum slipped back toward $2,000, while other major tokens such as Solana, XRP, and BNB also posted moderate daily declines. Trading volumes cooled after Wednesday’s surge, signaling a pause in the risk-on momentum that had lifted digital assets.
The pullback reinforces crypto’s increasingly tight correlation with large-cap tech stocks, particularly AI-linked names. Wednesday’s rally was fueled by optimism ahead of Nvidia’s report – Thursday’s dip suggests traders are reassessing situation after the initial excitement faded.
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Still Higher Than Before the Surge
Despite the retracement, crypto markets remain above pre-earnings levels. The broader structure suggests this is more of a short-term correction than a full reversal – at least for now.
