Bitcoin bounces back 4% and beats stocks
Traditional markets shook as they waited for Nvidia's earnings. Bitcoin stood out by gaining 4% on Tuesday. The crypto went against the drop in US stock indexes during this edgy time. It caught the eye of investors. Does this jump show fresh upward drive? Or is it just a quick bet? The move hits right before a big AI report. That adds a smart edge to it.
A key Bitcoin symbol jumps over Wall Street buildings. It strikes a winning stance.
Quick summary
Bitcoin rose 4%. It beat back the slide in US stock indexes for now. The gain hits during high nerves over Nvidia's money results. Old markets fell. Nasdaq lost 1.5%. Dow Jones shed 1.2%. Nvidia dropped 2%. Bitcoin hit a key tech spot from $88,400 to $91,500. That drew trader eyes. Bitcoin's surprise jump in a stressed stock setup On Tuesday, November 18, Bitcoin pulled off a strong 4% gain. Michael Saylor saw it coming. It climbed from $89,300 to $93,700 in hours.
This rise came as old finance markets took big hits. The Dow Jones lost up to 1.2%. The S&P 500 fell 1.1%. Nasdaq sank 1.5%. Nvidia's shares, a top AI force, slid 2% that day. That pushed its monthly drop to 10%. All this on the edge of its quarterly earnings.
Tech and money factors helped spark the gain. BTC bounced from a main support area. That spot runs from $88,400 to $91,500. It matches a block of key orders.
Stock market jitters might have pushed cash to riskier bets for a bit. Some experts see fresh risk hunger before Nvidia's earnings. They view it as a big test for AI growth.
Key facts to note:
Bitcoin gained 4% in one day. It went from a low of $89,300 to $93,700; Stock markets fell across the board; Nvidia's stock plunged 2% before its third quarter numbers came out. Worries grew over AI boom staying power; A main tech zone kicked in from $88,400 to $91,500. It's known as an order block; Bitcoin acts as a short-term risk hideout now. That's unlike typical tech shares. This gain matters. Yet it plays out in tight global money stress. Will it hold as a real comeback? Or is it just price swings in high-wait mode?
A comeback held back by no big investors This sharp gain brings buzz. But key signs cool the hype. On-chain stats show the Coinbase premium dipped to -$114.5 on November 17. That tracks the gap between Coinbase prices (big investor spot) and Binance (mostly small traders).
It's near lows not seen since February 25. Back then, it hit -$138 as big players pulled out. This points to big investors losing interest. They skip this price uptick.
The demand split shows a weak market base. In a true bull run, the premium turns positive. That means big money floods back.
A negative spread like now says small traders on Binance drive the rise. They jump on price moves fast. They sell quick on dips.
This setup risks the gain's power. No real big backer means the push lacks roots. It could fade soon. That risk grows if stocks dip more on Nvidia news. Bitcoin's price looks better. But its near-term path ties to tech signals and old market shakes.