Rumors about a CEO sent Nvidia perpetual futures tumbling 7% in a single day—and this was happening in crypto markets. Jensen Huang was reportedly involved in a second extramarital affair, and there were also reports that he might be replaced, adding a new “people” risk to the AI leader overnight.
Smart money is split: one whale closed a $190 million Nvidia long position at a $2.45 million loss, while a new wallet went long on $13.12 million worth of SOXL using 10x leverage. The same day, JPMorgan slashed its price target from $320 to $215, and BofA cut its target to $280.
What stings even more is that crypto got dragged down too. $BTC fell below $73,000, Bitcoin ETFs saw about $1.4 billion in outflows over five days, and stablecoin supply shrank by $14.2 billion over 30 days—the biggest drop since June 2022.
If AI stocks keep falling, crypto will have a hard time staying unscathed in the short term. This BTC rally looks more like it’s dancing to the mood swings in AI stocks.
Do you think the turmoil around Jensen Huang is a case of all the bad news being priced in—or just the beginning?
See the image for today’s other key stories 👆
⚠️ Not investment advice · DYOR
#CryptoEveningBrief #Nvidia #Bitcoin
Smart money is split: one whale closed a $190 million Nvidia long position at a $2.45 million loss, while a new wallet went long on $13.12 million worth of SOXL using 10x leverage. The same day, JPMorgan slashed its price target from $320 to $215, and BofA cut its target to $280.
What stings even more is that crypto got dragged down too. $BTC fell below $73,000, Bitcoin ETFs saw about $1.4 billion in outflows over five days, and stablecoin supply shrank by $14.2 billion over 30 days—the biggest drop since June 2022.
If AI stocks keep falling, crypto will have a hard time staying unscathed in the short term. This BTC rally looks more like it’s dancing to the mood swings in AI stocks.
Do you think the turmoil around Jensen Huang is a case of all the bad news being priced in—or just the beginning?
See the image for today’s other key stories 👆
⚠️ Not investment advice · DYOR
#CryptoEveningBrief #Nvidia #Bitcoin
