Daily News: Bitcoin Holds Key $112k as Nvidia Outlook Weighs on Sentiment
Nvidia’s softer guidance pressures markets, while China liquidity and macro data shape crypto’s next move.
🪙 Crypto Market Update
Bitcoin is struggling to build momentum after Nvidia’s earnings outlook disappointed investors. Although the company reported record quarterly revenue of $46.7B and forecast as much as $55B for next quarter, restrictions on China sales clouded sentiment. U.S. equity futures are set to open lower, dragging on risk appetite.
That said, not all signals are negative. China injected over 1 trillion yuan of liquidity this week, which could provide support for risk assets — including crypto.
On the charts, Bitcoin remains pinned near the $112k level, a crucial pivot. Failure to defend this zone could trigger a deeper slide toward sub-$100k. A short-term bullish scenario would see a rally into the $114k–$116k zone, with the possibility of testing $119k if momentum builds. Longer term, structural range expansions still point toward $140k and beyond if a new cycle leg unfolds.
Altcoins are mixed: Ethereum and Solana face near-term exhaustion signals, with ETH already flashing weekly sell warnings. Both assets need to hold their current support zones to avoid sharper corrections.
For Bitcoin, closing the week above $117k–$119k would be a strong sign that larger upside remains intact. Anything less may leave bearish patterns in play.
🌍 Global Macro & Markets
Despite Nvidia beating expectations, shares fell about 3% as investors focused on softer guidance and China export restrictions. Reports that Chinese AI chipmakers plan to triple output next year add to competitive concerns. Still, Nvidia announced a $60B buyback, underscoring confidence in long-term demand.
On the geopolitical side, Trump’s renewed attacks on Fed Chair Powell and the removal risks facing Fed member Lisa Cook keep central bank independence in question. Trade tensions remain high after new U.S. tariff threats and EU pushback over digital service taxes.
In FX, the dollar index closed nearly flat at 98.18. EUR/USD was steady around 1.1638, while EUR/GBP slipped on weak UK demand at bond auctions. Gold firmed slightly to $2,397 and silver hovered near $38.5. Brent crude edged higher to $67.8 as U.S. inventory draws tightened supply expectations. U.S. 10-year yields slipped to 4.23%, reflecting political risk and dovish Fed bets.
Equities finished modestly higher: Nasdaq +0.17%, S&P 500 +0.24%. Today, U.S. GDP and jobless claims data are in focus, alongside earnings from Marvell Technology.
📌 Key Takeaways
Bitcoin must defend $112k; losing it risks a slide below $100k
Nvidia reported record revenue but guidance weighed on markets
China liquidity injection (¥1T+) offers potential support for crypto
Gold steady, oil higher, U.S. yields lower as Fed independence in question
U.S. GDP and jobless claims due today; Marvell earnings on deck
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