Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-anticipate-nvidias-upcoming-earnings-report/" data-wpel-link="internal">Analysts Anticipate Nvidia’s Upcoming Earnings Report</a><br></p>
<p style="text-align: justify">All eyes seem to be on <a href="https://newslinker.co/category/computing/" target="_blank" rel="noopener" data-wpel-link="exclude">Nvidia</a>‘s upcoming earnings report. The <a href="https://en.coin-turk.com/judge-approves-ftx-and-alamedas-12-7-billion-repayment/" data-wpel-link="internal">cryptocurrency market</a>, especially Bitcoin, appears to have moved in parallel with the decline in US stocks today. Nvidia’s announcement has the potential to provide clues about the continuation of the AI-driven <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">bull market</a> or whether the rally is starting to lose momentum, and this situation could also be seen as a turning point.</p> 
<h2 style="text-align: justify" id="nvidia-expectations-and-cryptocurrencies">Nvidia Expectations and Cryptocurrencies</h2> 
<p style="text-align: justify">Analysts participating in the FactSet survey indicated that Nvidia might have achieved an adjusted earnings per share of approximately 65 cents for the second quarter, with revenues potentially reaching $28.74 billion. This figure represents more than double the earnings compared to the same period in 2023.</p> 
<p style="text-align: justify">On the other hand, Nvidia’s revenue had shown a year-over-year increase of more than threefold in April, which could indicate a slowdown in growth. This situation at Nvidia has also led to uncertainty on the Nasdaq side, and all eyes are currently on the upcoming announcement.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-383663" src="https://coin-turk.com/wp-content/uploads/2024/08/nvdia-kripto-1-coin-turk-com.png" alt="" width="501" height="262"></p> 
<p style="text-align: justify">The cryptocurrency market, which maintained a positive correlation with the Nasdaq 100 with a 30-day average correlation coefficient of 0.40 as of August 27, also experienced a noticeable decline, especially Bitcoin.</p> 
<h2 style="text-align: justify" id="market-long-short-balance">Market Long/Short Balance</h2> 
<p style="text-align: justify">The decline in the crypto market revealed liquidations worth $143.70 million in the last 24 hours, with $126.34 million linked to long positions. Meanwhile, the open interest (OI) in the crypto futures market decreased by approximately 1.80% during the same period.</p> 
<p style="text-align: justify">The significant elimination of long positions reflects that many investors are trading with high leverage.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-383664" src="https://coin-turk.com/wp-content/uploads/2024/08/nvdia-kripto-2-coin-turk-com.png" alt="" width="493" height="147"></p> 
<p style="text-align: justify">Given that the market is currently moving in the opposite direction of this outlook, a series of liquidations that strengthen the downward price movement can be observed. This situation generally leads to a rapid decline as stop-loss and margin call orders are triggered.</p> 
<p style="text-align: justify">On the other hand, the decrease in OI indicates a reduction in active futures contracts, showing that investors are closing their existing positions and withdrawing from the market.</p> 
<h2 style="text-align: justify" id="general-chart-of-cryptocurrencies">General Chart of Cryptocurrencies</h2> 
<p style="text-align: justify">The decline in cryptocurrencies led by Bitcoin today can be interpreted as a reflection of movements in the general economic world. The price movements occurred after the market tested the upper trend line of the ongoing descending channel formation and experienced a scenario similar to that of June and July.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-383666" src="https://coin-turk.com/wp-content/uploads/2024/08/nvdia-kripto-4-coin-turk-com.png" alt="" width="498" height="260"></p> 
<p style="text-align: justify">As of August 27, the market value moved below the 200-day exponential moving average (200-day EMA; blue wave), an important indicator, and stands at around $2.13 trillion. The charts reflect the danger of a decline towards the lower trend line of the mentioned channel, around $1.80-$1.72 trillion.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analysts-anticipate-nvidias-upcoming-earnings-report/" data-wpel-link="internal">Analysts Anticipate Nvidia’s Upcoming Earnings Report</a></h5>
<p>The post <a href="https://en.coin-turk.com/analysts-anticipate-nvidias-upcoming-earnings-report/" data-wpel-link="internal">Analysts Anticipate Nvidia’s Upcoming Earnings Report</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Analysts Anticipate Nvidia’s Upcoming Earnings Report

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