Nvidia Earnings May Move Markets as Bitcoin Traders Eye Historical Correlation
Nvidia (NVDA), the world’s largest company by market capitalization at $4.4 trillion, is set to report quarterly earnings after the U.S. market close on Wednesday. Options markets are pricing in a potential $270 billion swing in valuation.
Data from Bitcoindata21 on X indicates a historical link between Nvidia earnings and Bitcoin (BTC) performance. Since early 2023, Bitcoin has risen following Nvidia results in seven of the last ten quarters during the ongoing bull market.
For the quarter, analysts expect Nvidia to report adjusted earnings per share of $1.01 on revenue of $46.2 billion. The options market is pricing in a 6.1% post-earnings implied move, marking the smallest expected swing since May 2023, according to The Kobeissi Letter.
Shares of Nvidia are up 30% year-to-date and 41% over the past 12 months but traded slightly lower in early Wednesday sessions ahead of the earnings release.
