Nvidia Set to Report Earnings with Strong Bitcoin Correlation

Nvidia (NVDA), valued at $4.4 trillion, will announce earnings after the U.S. market closes on Wednesday.

Nvidia's earnings have historically correlated with positive performance in Bitcoin.
Out of the last 10 earnings reports since early 2023, Bitcoin showed positive price action following Nvidia results 7 times.
Analysts expect adjusted earnings per share of $1.01 with revenue of $46.2 billion for the quarter.
The options market anticipates a 6.1% implied move post-earnings, potentially affecting Nvidia's market cap by approximately $270 billion.
This would be the smallest implied swing since May 2023.
Nvidia shares are up 30% year to date and 41% over the past year, but are slightly lower in early trading ahead of the report.