Crypto, tech stocks climb on Nvidia’s blowout Q3 earnings

Nvidia reported earnings that exceeded expectations, with CEO Jensen Huang noting exceptional sales of Blackwell GPUs and sold-out cloud GPU inventory. This positive performance has calmed jittery markets and contributed to Bitcoin's resurgence above $90,000.

Nvidia's earnings for Q3 exceeded expectations, resulting in a surge in its stock price and contributing to Bitcoin's recovery to $90,000, driven by strong data center revenue.

Investors are currently navigating a volatile Bitcoin market influenced by AI developments, uncertainty surrounding potential rate cuts, and significant economic data releases. The upcoming Nvidia earnings report and Federal Reserve minutes are expected to play a crucial role in shaping market sentiment.

Bitfury, a Bitcoin mining company established in 2011, has announced a strategic shift towards technology investment, launching a $1 billion fund focused on ethical artificial intelligence and cryptocurrency startups. This pivot marks a significant change after 14 years in the Bitcoin mining sector, reflecting the company's adaptation to evolving market dynamics and the growing importance of ethical technology in the investment landscape.

Bitcoin's price stabilized on November 18 as investors took advantage of the dip, awaiting the upcoming FOMC minutes and Nvidia earnings report. The cryptocurrency market has been experiencing volatility, with Bitcoin's price fluctuating significantly in recent weeks. Despite concerns regarding institutional demand, the current sentiment remains cautiously optimistic as traders look for signs of recovery.

Bitcoin surged by 4% as U.S. equities declined ahead of Nvidia's earnings report. Despite this rebound, on-chain data indicates weak institutional demand, raising questions about the sustainability of the rally. Analysts are observing whether this uptick in Bitcoin's price reflects genuine spot buying or is merely a temporary fluctuation amidst broader market volatility.

Bitcoin experienced a 4% increase as U.S. equities fell ahead of Nvidia's earnings report. Despite this rebound, on-chain data suggests weak institutional demand, raising questions about the sustainability of the rally. Analysts are monitoring whether this uptick is indicative of spot buying or merely a temporary bounce in a volatile market.

The US banking regulator has permitted banks to hold cryptocurrencies to pay network fees, a decision that could significantly enhance the integration of traditional banking with the cryptocurrency sector. This regulatory change is expected to reshape financial services and payment systems, allowing banks to engage more actively in the crypto market.