What happened
BeInCrypto flagged the week ahead on Sunday, pointing to three big tech earnings prints that stack directly on top of the Federal Reserve's October rate decision. Microsoft and Alphabet report Wednesday, with the Fed announcement landing earlier in the same session. Amazon follows later in the week.
In their last reported quarters, Google Cloud revenue grew 82% year on year, Microsoft's Azure grew 42%, and Amazon Web Services grew 37%. All three companies have been spending aggressively on AI infrastructure, from Nvidia GPU orders to custom silicon and data center buildouts, and the question going into Wednesday is whether that spend is still outrunning the revenue it's supposed to pull in.
Why it matters
Crypto doesn't trade in a vacuum, and the correlation between BTC and the Nasdaq 100 has been the dominant channel for most of 2026. A Fed decision stacked on top of two hyperscaler prints creates one of the heaviest single-session macro setups of the quarter. If Alphabet and Microsoft miss on cloud margins or walk back AI capex guidance, the hit lands on semis and megacap tech first, then rolls into crypto through the risk-asset beta.
The reverse also holds. Clean beats with raised capex guides have historically pulled BTC and ETH higher alongside Nasdaq, especially when the Fed delivers a dovish tone in the same window. The setup matters because it concentrates risk.
Traders who were planning to fade the Fed decision will have to decide what to do when earnings hit two hours later.