Analysis: Nvidia's stock price has formed a death cross this week, but its correlation with AI token prices is gradually weakening

Odaily Planet Daily News: Market data platform Barchart analyzed on X platform that AI token traders usually pay more attention to chip giant Nvidia, but its stock price has just formed its first death cross since April 2022 (the 50 day moving average fell below the 200 day moving average), and the last death cross caused its stock price to plummet by 47% in the following 6 months. Although Nvidia's stock price showed a bearish signal this week, AI tokens were not affected. Among them, Render (RNDR) rose by 4.06%, Bittensor (TAO) and Artificial Superintelligence Alliance (FET) both rose by about 2.88%. Analysis suggests that Nvidia's stock price has not been significantly correlated with the price trend of AI tokens at some point, such as Nvidia's revenue growth of 18% in the first quarter of last year, but strong performance has not led to a similar trend in AI token prices. Some cryptocurrency traders believe that only AI tokens with true practicality can thrive in the future. （Cointelegraph）