Bitcoin Soars as Nvidia Shares Plummet, Impacting Mining Firms – BitRss

The cryptocurrency market faced turbulence on January 27 due to a significant drop in technology stocks. Since then, Bitcoin $102,884 has made a recovery, trading at $102,668 with a 3% increase in the last 24 hours. In contrast, shares of mining companies fell between 20% and 30%. Companies investing in artificial intelligence were particularly hit hard, as evidenced by a 17% collapse in Nvidia shares, highlighting the connection between the cryptocurrency and technology sectors. Market experts emphasize that the upcoming Federal Reserve interest rate decision and the financial outcomes of major tech companies will be pivotal in determining market direction. This correction could create new opportunities for investors as profit-taking on overvalued assets has been triggered.