Bitcoin (BTC) Price News: Falls to $88K, Erases Bounce After Nvidia Earnings

Bitcoin's brief rally, which saw prices climb above $93,000 following strong earnings from Nvidia (NVDA), proved short-lived, with BTC falling back to $88,000. This reversal mirrored a broader market pullback, as U.S. stocks, including the Nasdaq, gave up significant early advances, with the Nasdaq ending up only 0.3% and Nvidia trading flat after initial gains. Macroeconomic concerns are dampening sentiment, particularly the expectation that the Federal Reserve will not cut interest rates in December, reinforced by a stronger-than-expected September employment report. Furthermore, Cleveland Fed President Beth Hammach voiced concerns over high stock prices, echoing historical warnings of "irrational exuberance." The downturn also heavily impacted other digital assets; Ethereum fell nearly 4%, and crypto-related stocks like MicroStrategy (MSTR), Coinbase (COIN), and Circle (CRCL) saw significant losses.

(Source：CoinDesk)