Bitcoin Steadies at $92K as Asia Opens; Nvidia’s Strong Earnings Soothe AI Market Jitters

Bitcoin (BTC) kicked off Asia’s trading session on a resilient note, stabilizing around $92,000 after a bruising week that saw it dip to seven-month lows near $88,500 amid a $1 trillion crypto market wipeout. The rebound gained traction from Nvidia’s blockbuster Q3 earnings, which crushed Wall Street forecasts and quelled fears of an AI bubble bursting—rippling positivity into risk assets like equities and digital currencies.

Nvidia’s fiscal 2026 third-quarter report, unveiled after U.S. markets closed on November 19, revealed revenue soaring 62% year-over-year to $57 billion—topping estimates of $55.4 billion—and adjusted EPS of $1.30 against $1.26 expected. CEO Jensen Huang dismissed bubble talk, declaring the AI ecosystem “scaling fast” with Blackwell chip sales “off the charts.” Guidance for Q4 points to $65 billion in sales, $3 billion above consensus, reaffirming a $500 billion+ order backlog through 2026. Shares surged 4% in after-hours, lifting tech-heavy indices like Nasdaq futures 1.2%.

This AI lifeline arrives as Bitcoin grapples with macro headwinds: U.S. ETF outflows hit $3.7 billion since October 10, fueled by tariff tensions and leveraged liquidations exceeding $1 billion on November 18 alone. Yet, BTC’s floor at $90K–$92K draws from institutional accumulation—long-term holders netted 15,000 BTC last week—and a Fear & Greed Index at 52 (neutral). Cooling U.S. inflation (3.3% core PCE) and steady hash rates further buoy sentiment, with analysts eyeing 40–50% odds of a sub-$100K November close rebounding to $95K–$97K.

Asia’s equities mirrored the thaw: Nikkei 225 rose 0.8% at open, Hang Seng climbed 1.1%, buoyed by tech rebounds. Ethereum edged up 0.5% to $3,050, holding above key supports, while altcoins like Solana (+2%) and XRP (+1.2%) turned green—Layer-2 tokens outperforming with zkSync up 15%.

Short-term, BTC eyes $90K support and $95K resistance in a $90K–$95K channel. A Fed rate cut signal could propel it toward $116K by month-end, per CoinDCX; downside risks linger from equity pullbacks or geopolitical flares. As Nvidia’s glow tempers AI jitters, Bitcoin’s consolidation hints at pent-up upside—HODLers, stay tuned for the next macro spark.