Bitcoin News Today: Nvidia's Financial Results: The Decisive Point for Market Trends

Global markets are experiencing heightened caution as both stocks and cryptocurrencies undergo significant drops, fueled by growing doubts about AI-driven expansion, evolving expectations for Federal Reserve policy, and worsening investor outlook. On Wednesday, the S&P 500 managed a slight uptick, with

(NVDA) climbing 2.9% ahead of its much-watched earnings release, the Nasdaq gaining 0.6%, and . At the same time, (BTC) tumbled below $90,000, , as unprecedented withdrawals from BlackRock's iShares Bitcoin Trust (IBIT) reflected deepening negativity.

The S&P 500's upward movement remains heavily reliant on a handful of large-cap tech names, with Nvidia's results viewed as a key indicator for the broader market. Experts caution that any disappointment in the chip giant's quarterly figures could spark a steep market selloff due to its substantial impact. "Nvidia's earnings are now a critical test for the AI-fueled rally," one strategist commented,

in market capitalization after earnings. The stock's recent sideways movement signals that investors are preparing for turbulence, .

The downturn in digital assets has been even more pronounced. On Tuesday, BlackRock's IBIT saw $523 million withdrawn—

—bringing November's total to $2.96 billion. This comes amid a wider selloff, with Bitcoin losing 30% since its October high and (ETH) dropping over 6% to $2,923. The decline has been worsened by forced liquidations, regulatory ambiguity, and fading hopes for Fed rate reductions. , "ETF redemptions along with sales from long-term holders have reduced liquidity, driving prices down and exposing weakening market confidence."

The Federal Reserve’s evolving approach has further intensified the downturn. The likelihood of a rate cut in December has dropped to just 33%,

, after the Bureau of Labor Statistics postponed key employment data until after the Fed’s December meeting. Fed policymakers remain split on additional easing, . This uncertainty has spilled over into crypto, where lower rates usually encourage risk-taking. since late October highlights the sector’s vulnerability to monetary policy changes.

Investor mood has turned sharply negative,

—its lowest reading since late 2022. This index, which tracks volatility, trading volume, social sentiment, and other factors, indicates widespread fear in the crypto space. "in the past, extreme fear has often come before strong recoveries, but the current situation suggests panic is overpowering rational choices."

Some industries have managed to hold up, such as

following a major wind turbine upgrade agreement. Constellation Energy (CEG) advanced 5.3% after obtaining a $1 billion loan to restart a nuclear facility, and Lowe’s (LOW) gained 4% on robust quarterly earnings