NVDA Earnings Call Pumps Crypto Briefly

Following a strong earnings report from NVDA, the cryptocurrency market saw a brief uptick, temporarily pushing Bitcoin (BTC) to $91,800 before it retreated to around $87,000. Ethereum (ETH) and Binance Coin (BNB) declined by 2%, while Solana (SOL) showed slight gains. Although cryptocurrency assets initially surged, recent market indicators, including death crosses on BTC and ETH charts, suggest potential long-term weakness. Meanwhile, U.S. interest rate-cut expectations have diminished to 33%, further impacting market sentiment. The tech landscape is evolving as Vitalik Buterin warned of potential quantum computing threats to Ethereum’s security by 2028, stressing the need for shift towards quantum-resistant solutions. In industry news, Kraken successfully secured an $800 million funding round and quietly filed for a U.S. IPO. Regulatory updates feature developments like the OCC's clarification that national banks may handle cryptocurrency transactions in specific scenarios. Moreover, Bitcoin miner fees hit a one-year low, highlighting tightened profit margins in the mining sector.

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