Bitcoin

Bitcoin (BTC) and Nvidia Corp (NASDAQ: NVDA), have recently witnessed a volatile nature of investing from the investors. The <a href="https://news.todayq.com/bitcoin-dips-to-62k-will-market-crash-more/" rel="noopener noreferrer nofollow">largest digital currency</a> saw one of its steepest drops since the crypto market recovery began last year. However, this situation has left the investors hoping that the $60K price level might play a crucial support level here. Bitcoin drops below $60K 
The global digital assets market recorded a massive dump on Monday and this slump continued on Tuesday as well. Bitcoin fell to $59,200, one of its lowest points in recent months. Meanwhile, BTC saw recovery by rising around 3% on Tuesday to breach the $61,000 price level.
Nvidia also faced a sharp decline as its stock price dropped nearly 7%. This resulted in a market value loss of about $430 billion over the last three sessions. It is the largest three-day value loss for any company in history. Despite its long-term gains, Nvidia’s recent performance underscores the inherent risks in high-flying tech stocks.
BTC is now down by over 11% in the last month. Bitcoin is trading at an average price of $60,622, at the press time.
Experts stated that both Bitcoin and Nvidia exemplify how momentum trades can shift quickly. People are working out now that momentum works both ways. They noted that Bitcoin relies heavily on positive sentiment, while Nvidia’s position is an incredibly saturated long position. What do experts say? 
On Tuesday, broader investor sentiment showed signs of resilience. Asian stocks and Nasdaq 100 futures both rose, supported by gains in global stocks, gold, and cryptocurrencies over the past year.&nbsp;
Experts highlighted on Bloomberg Radio that an equal-weighted version of the S&amp;P 500 climbed on Monday despite Nvidia’s struggles. This gauge, which minimizes the influence of mega cap tech stocks, suggests that market fundamentals remain strong across a wider range of industries.
Ether (ETH), the second-largest digital asset, has not faced the same pressure as Bitcoin and remains relatively stable. The Ether staking protocol Lido (LDO) continues to outperform, up 14% on the day and 25% over the last week, driven by impressive fees, revenue, and total value locked.
Bitcoin’s recent sell-off has been linked to impending Mt. Gox bankruptcy redemptions and sales by miners. Bitcoin ETFs saw an outflow of $174 million by Monday’s close, capping a week with nearly $1 billion in outflows.

Bitcoin, Nvidia’s historic drops, time to panic?

Todayq News

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