Nvidia Earnings Trigger 'Sell the News' Event In Crypto Market

Nvidia quarterly earnings report, which showcased a substantial revenue increase to $30 billion, has led to unexpected reactions in the cryptocurrency markets. Despite the tech giant’s financial success, reflecting a 122% year-over-year increase, the crypto sector experienced a downturn. Bitcoin retracted to $59,000 and Ethereum to around $2,500, while AI-related crypto dropped, signalling a “sell the news” response among investors.