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Nvidia became the third company to enter the $3 trillion club, leaving behind Apple to set its position as the second-largest U.S. stock exchange-listed company. Nvidia (NVDA) share price hit a new all-time high of 1,224.50 and triggered bullish signals for technology stocks and Bitcoin and <a href="https://coingape.com/news/stocks/nvidias-rally-to-ignite-upsurge-in-ai-coins/" target="_blank" rel="noopener noreferrer nofollow">AI coins</a>. Is Bitcoin rally to $100,000 more likely after Nvidia’s giant leap?
<h2 id="analyst-says-nvidia-rally-strengthened-bitcoin-100k-move">Analyst Says Nvidia Rally Strengthened Bitcoin $100K Move</h2>
Markus Thielen, CEO of 10XResearch, on June 6 said a massive surge in <a href="https://coingape.com/nvidia-overtakes-apple-hits-3-trillion-on-ai-momentum/" target="_blank" rel="noopener noreferrer nofollow">Nvidia </a>share price hints at high odds of Bitcoin price hitting $100K. He further bolstered his earlier prediction that BTC price is expected to hit a new all-time high by next week.
<img decoding="async" class="aligncenter" src="https://pbs.twimg.com/media/GPXJK-caYAAjSDL?format=jpg&amp;name=medium" alt="Image" width="793" height="658">
Since a rise in the correlation between Bitcoin and US markets due to ongoing mainstream adoption, Nvidia and BTC prices have moved almost similarly. Markus Thielen believes a breakout of $70,568 has set Bitcoin on a path to hit $100K.
NVDA price trading at 1,237.21, up 1.05% in a pre-market rally on Thursday. The price soared over 32% in a month and 154% year to date. Analysts at&nbsp;Bank of America raised their price for Nvidia&nbsp;stock to $1,500 from the previous NVDA price target of $1,320.
This shift underscores the growing investor enthusiasm for companies at the forefront of the artificial intelligence (AI) revolution.
Also Read: <a title="Cardano, Shiba Inu, Jasmy Grabs Interest Of Big Whales, Trigger Buy Signal" href="https://coingape.com/cardano-shiba-inu-jasmy-grabs-interest-of-big-whales-trigger-buy-signal/" target="_blank" rel="noopener noreferrer nofollow">Cardano, Shiba Inu, Jasmy Grabs Interest Of Big Whales, Trigger Buy Signal</a>
<h2 id="multiple-factors-confirms-btc-price-rally">Multiple Factors Confirms BTC Price Rally</h2>
<a href="https://coingape.com/price/bitcoin" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> is trading sideways today, with the price currently trading at $70,915. The 24-hour low and high are $70,390 and $71,735, respectively. Furthermore, the trading volume has decreased by 27% in the last 24 hours, indicating a decline in interest among traders.
<a href="https://coingape.com/bitcoin-price-eyes-new-all-time-high-soon-as-per-3-on-chain-indicators/" target="_blank" rel="noopener noreferrer nofollow">CryptoQuant</a> data reveals institutional investors have shifted towards reaccumulation over the past two weeks, NVT golden cross hints local bottom, and Bitcoin Volatility Index (SMA-30d) and Adjusted MVRV (30DMA/365DMA) metrics highlight slowdown in price swings.
Analyst Willy Woo predicted a $1.5 billion Bitcoin short liquidation if BTC price hits $72,000 and set to a rally towards $75,000.
Also Read: <a href="https://coingape.com/news/stocks/cathie-woods-ark-invest-has-strong-ai-exposure-despite-trimming-nvidia/" target="_blank" rel="noopener noreferrer nofollow">Cathie Woods Ark Invest Has Strong AI Exposure Despite Trimming Nvidia</a>
The post <a href="https://coingape.com/why-nvidia-share-price-rally-boosted-odds-of-bitcoin-price-hitting-100k/" rel="noopener noreferrer nofollow">Why Nvidia Share Price Rally Boosted Odds of Bitcoin Price Hitting $100K?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Why Nvidia Share Price Rally Boosted Odds of Bitcoin Price Hitting $100K?

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