Amazon.com delivered a positive earnings outlook on Thursday, supporting the broader crypto market

It has been a bullish July, with market sentiment towards Fed monetary policy and US corporate earnings contributing to the upside

On fears of the Fed taking an aggressive interest rate path to bring inflation to target, the crypto market cap fell to a July 13 low of $824 billion

However, a shift in sentiment led the total crypto market cap to a July high of $1,094 billion, with US corporate earnings, US economic data, and market sentiment toward Fed monetary policy delivering support

The crypto market correlation with the NASDAQ 100 remains firmly in place despite US economic woes and positive crypto network updates.

The gloomy outlook left the NASDAQ 100 down 1.87%, weighing on stocks linked to consumers, including Amazon.com

The NASDAQ 100 pullback, in response to the WMT outlook, weighed on the broader crypto market before a late rebound supported by a positive outlook from Microsoft (MSFT).

Amazon.com’s (AMZN) share price increased by 1.08% during regular trading hours. In response to the earnings results and outlook, shares surged by 13.62% to $16.66 during extended trading.