Bitcoin Just Lost Three Weeks Of Gains Before Key Fed Week

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Bitcoin (BTC) and the wider crypto market are heading into a high-volatility week as traders prepare for Federal Reserve minutes, Nvidia earnings, inflation-sensitive economic data, and escalating geopolitical pressure tied to Iran. Crypto markets erased nearly $130 billion in value over the weekend, and Bitcoin dropped below $77,000 and wiped out nearly three weeks of gains. Investors are now watching whether macro events can stabilize sentiment or trigger another wave of selling.

Fed Data and Nvidia Earnings Put Markets On Edge

Specifically, the economic calendar begins on May 19 with pending U.S. home sales data and labor market reports that could shape expectations around economic strength and interest rates.

Attention then shifts to the May 20 Federal Open Market Committee minutes, which may offer fresh clues about how Federal Reserve officials are viewing inflation and future rate decisions. Markets are also focused on Nvidia’s earnings report later that day, now considered one of the most important quarterly events for both AI stocks and risk assets more broadly.

Nvidia CEO Jensen Huang recently raised projections for the company’s flagship AI chips, and analysts at TD Cowen expect the company to beat revenue expectations by as much as $2 billion.

Strong Nvidia results could boost sentiment around AI-related crypto tokens, which have increasingly traded alongside broader AI momentum in traditional markets.

Bitcoin Falls as Oil Prices and Macro Risks Climb

The crypto market weakened sharply over the weekend after the U.S. President Donald Trump warned that “the clock is ticking” for Iran to make a deal, contributing to another spike in oil prices above $108 per barrel.

Bitcoin led the selloff, falling below $77,000 during Asian trading before recovering slightly. On May 18, it was trading at $76,940.23, down 1.5% on the day, 4.7% over the week, and 0.1% across the month, Despite the drop, the asset still remains inside the same general consolidation range that has dominated price action since February.

Ethereum (ETH) also slid back toward $2,100, which marked its weakest level since early April. Its price at press time stood at $2,117.50, down 3.2% in the last 24 hours, losing 9.1% across the last seven days, and accumulating a 12% dip over the past month.

Most altcoins followed the market lower, though projects like Hyperliquid (HYPER) and Zcash (ZEC) continued showing relative strength during the downturn.

The week now revolves around whether macroeconomic signals, Fed commentary, and Nvidia earnings can revive risk appetite after one of crypto’s sharpest weekend pullbacks in weeks.