Cryptocurrency markets experienced a significant rebound, tracking a surge in U.S. technology stocks ahead of Nvidia’s key earnings report. Bitcoin climbed approximately 7.6% to near $69,000, with trading volume up nearly 30%.
The rally extended to other major digital assets. Ethereum surged past $2,100 with a double-digit gain, while Solana approached $90. This broader market strength pushed the total crypto market capitalization over 7% higher, signaling renewed risk appetite for digital assets.
Much of the crypto surge occurred before Nvidia released its quarterly results, indicating traders anticipated a positive outcome. U.S. equities, particularly tech and AI-linked stocks, also rallied into the report. Nvidia exceeded earnings expectations and provided strong future guidance. While a slight post-announcement pullback occurred, overall market sentiment remained constructive.
This movement underscores crypto’s increasing correlation with large-cap technology stocks, especially those involved in the AI boom, demonstrating a return of risk-on flows to digital assets.