Bitcoin Market Watch: Nvidia Earnings, Fed Minutes, and Payrolls to Set the Tone
Bitcoin is trading around $89,430.50 as key events including Nvidia earnings, Federal Reserve minutes, and payroll reports are poised to influence market sentiment.
Since peaking above $126,000 on October 8, Bitcoin has declined over 25%, dropping to approximately $90,000 amid policy uncertainty and volatility driven by developments in artificial intelligence.
Nvidia is scheduled to report its third-quarter earnings after market close, with expectations for revenue of $54.8 billion and a non-GAAP earnings per share of $1.25. The company maintains a market valuation around $4.42 trillion. Nvidia's leadership in AI is highlighted by its graphics processing units (GPUs), which play a crucial role in AI training and blockchain technologies. Notably, a recent partnership with Anthropic includes a $30 billion compute deal with Microsoft that will operate on Nvidia's Grace Blackwell and Vera Rubin systems.
The Federal Open Market Committee (FOMC) minutes from the October meeting are due at 19:00 GMT. Market participants are watching for indications of dissent concerning further monetary easing and a potential 25-basis-point rate cut in December. The upcoming December 9-10 meeting is seen as pivotal, featuring a new 'dot plot' to signal future policy directions.
September 2025 nonfarm payrolls data is forecasted to show an increase of about 50,000 jobs, with the unemployment rate expected to be 4.3%. This data release had been delayed due to a government shutdown. Weaker-than-expected payroll numbers could increase speculation regarding Fed rate cuts, potentially boosting risk assets including Bitcoin.
In summary, the combination of Nvidia earnings, Fed minutes, and payroll data is set to influence both stock and cryptocurrency markets amid the ongoing impact of AI-driven volatility and uncertainty surrounding rate cuts.
