Bitcoin steady as Nvidia earnings and AI fears weigh

Bitcoin and crypto markets dipped alongside tech stocks after Nvidia’s earnings, but remained stable. Nvidia’s CEO said AI will enhance, not replace, software. Market sentiment is cautious amid tech and AI volatility.

Bitcoin and the broader crypto market opened Friday with losses, reflecting declines in tech equities following Nvidia’s earnings-driven pullback. Bitcoin traded near $67,766, down 1.5% on the day but still up 0.6% for the week. Ethereum also slipped 1.5%. Both assets have traded within a tight range since early February, with recent selling attributed to a leverage flush rather than a fundamental breakdown. Meanwhile, Nvidia’s CEO addressed concerns that AI could replace enterprise software, emphasizing that AI will enhance and complement existing tools, not replace them. In equity markets, futures fell as worries about AI-driven workforce disruption and disappointing tech sector performance weighed on investor sentiment. Despite these headwinds, Bitcoin held steady near $68,000, mirroring the cautious mood in technology equities. Nvidia’s strong quarterly results initially boosted optimism, but subsequent declines in Nvidia and Coreweave stocks raised questions about the sustainability of the AI boom. The crypto market’s resilience amid broader market declines underscores its growing connection to mainstream financial sentiment and macroeconomic trends.