Bitcoin Macro Watch: Amazon Cloud Backlog Hits 496 Billion

The article frames Bitcoin’s trading backdrop around Amazon’s blockbuster earnings and cloud backlog update, arguing the tech giant’s surge could influence broader risk sentiment. Amazon shares jumped 15.32% to $271.58 after reporting $200.6 billion in revenue, up 19.6% YoY and above estimates, while AWS grew 36.8% to $42.2 billion. Analysts rushed to raise targets, with JPMorgan highlighting a cloud backlog that climbed to $496 billion. However, the piece also notes Amazon’s free cash flow turned negative by $7.6 billion over the trailing 12 months as capital spending ramps toward roughly $220 billion this year. For crypto, the takeaway is mixed: strong AI/cloud demand can support risk appetite, but heavy infrastructure spending and cash burn may pressure liquidity narratives. Bitcoin itself was trading near $62,893, down 2.98%, with sentiment in extreme fear.