Bitcoin rides Nvidia wave to spike above $70,000 before pulling back

Fortune

by Carlos Garcia

February 26, 2026

AI-Generated Deep Dive Summary

Bitcoin experienced significant volatility last week after Nvidia’s earnings report, rising above $70,000 but later dropping to around $66,000 as investor sentiment shifted. The tech giant’s strong fourth-quarter results initially boosted markets, including cryptocurrencies, but concerns about an artificial intelligence infrastructure bubble and broader risk aversion caused a reversal. This mirrors recent trends where Bitcoin has closely tracked traditional stock indices like the S&P 500, with crypto assets showing heightened sensitivity to macroeconomic factors. The drop in Bitcoin comes amid a challenging period for cryptocurrencies, which began in October when the market reached an all-time high of $126,000. Since then, other major cryptocurrencies like Ethereum and Solana have also seen sharp declines. This decline reflects broader investor caution, as highlighted by Kraken’s VP Matt Howells-Barby, who noted that risk appetite remains a key factor influencing asset prices across the board. Experts warn that Bitcoin’s volatility is likely to persist due to its sensitivity to factors such as ETF flows and macroeconomic conditions. Boris Alergant of Babylon Labs emphasized that until market dynamics stabilize, Bitcoin will remain highly reactive to news and trends, leading to larger price swings in both directions. This underscores the risks for investors in a market where uncertainty and external factors dominate. For businesses and readers interested in financial markets, this highlights the interconnectedness of traditional and cryptocurrency markets. The growing influence of macroeconomic trends on crypto assets like Bitcoin suggests that understanding broader market dynamics is crucial for navigating the volatile landscape. As the original cryptocurrency continues to exhibit behavior more aligned with speculative investments than a safe-haven asset, its trajectory will remain closely tied to global market sentiment and investor risk tolerance.

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Originally published on Fortune on 2/26/2026