Nvidia's Implied Volatility Has Surpassed Bitcoin and Ether in the Last 30 Days
July 31 -Bitcoin and NVIDIA (NVDA) stock have shown a strong positive correlation since late 2022, according to CoinDesk. Recently, NVIDIA's 30-day implied volatility jumped from 48% to 71%, outpacing the implied volatility of Bitcoin and Ether. In comparison, bitcoin's implied volatility has dropped from 68% to 49% and ethereum's implied volatility has dropped from 70% to 55%.
NVIDIA, due to its importance in artificial intelligence and the fact that it produces GPUs that have been used for cryptocurrency mining, has been a barometer of sentiment in the stock market and crypto market since the launch of ChatGPT at the end of 2022. Currently, the 90-day price correlation between Bitcoin and NVDA is 0.73.
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