Storage giant's earnings exceed expectations; under the capital absorption effect of traditional tech stocks, the crypto market faces short-term liquidity pressure.

CoinWorld News: Micron Technology (MU) reported in its third-quarter earnings released on Wednesday that revenue reached $41.5 billion, beating Wall Street expectations of $35.7 billion, driving the stock up 16% in pre-market trading. The company expects fourth-quarter revenue to be about $50 billion, well above the market’s forecast of $43.2 billion. Micron CEO Sanjay Mehrotra said supply shortages are expected to continue beyond 2027. The earnings report boosted confidence across the AI storage industry, driving up AI-related stocks, and even provided a slight lift to the crypto market. Bitcoin (BTC) rebounded to $61,667.29 after the market closed, but Micron’s strong performance could lead to more liquidity flowing out of the crypto market.