Bitcoin Rises Above $113K as Nvidia Earnings Boost Risk Appetite

Bitcoin's price has shown a pattern of declining in the days leading up to Nvidia's quarterly earnings reports, reflecting a growing correlation between the cryptocurrency and traditional market dynamics driven by AI sector sentiment. Nvidia, a key player in the AI wave, reported strong quarterly earnings that briefly boosted investor risk appetite, helping Bitcoin rebound above $113,000. However, Nvidia shares fell slightly in after-hours trading due to concerns over an AI bubble and trade tensions under President Donald Trump's administration. The data center and digital infrastructure sector, including companies like TeraWulf—which has significant agreements backed by Google—are benefiting from strong demand linked to AI and Bitcoin mining. Traders remain cautious ahead of Nvidia's earnings, as surprises could impact not only the tech giant but also broader indices and associated risky assets like Bitcoin. This interconnection signifies Bitcoin's maturation into an asset influenced by broader financial market cycles and investor sentiment.