Bitcoin (BTC $85,959), ether (ETH $2,810), XRP ($2.03), and other major tokens are attempting to stabilize after recent losses, as market focus turns to several key events that could shape both crypto and equity markets: Nvidia’s earnings, the Federal Reserve’s October meeting minutes, and the delayed September U.S. jobs report.
Nvidia Earnings
Nasdaq-listed chipmaker Nvidia (NVDA) reports third-quarter results after market close on Wednesday. Analysts expect Q3 revenue of $54.8 billion and non-GAAP EPS of $1.25, with the company valued around $4.42 trillion.
Investors will monitor fourth-quarter guidance, delivery of the Blackwell GPU architecture, and exposure to China. Nvidia’s GPUs are critical to AI and blockchain applications, giving its earnings an outsized impact on markets. The company’s $30 billion compute deal with Microsoft, running on its latest Grace Blackwell and Vera Rubin systems, underscores its dominance in AI infrastructure.
Strong results could reinvigorate AI-driven optimism, potentially boosting crypto sentiment. NVDA shares are up 31% year-to-date at $181, after cooling from a late-October high that briefly valued the company at $5 trillion. Meanwhile, bitcoin has fallen more than 25% from its October 8 peak above $126,000 amid policy uncertainty and limited economic data.
FOMC Minutes
The Fed’s October meeting minutes are scheduled for release at 19:00 GMT Wednesday. The central bank cut rates by 25 basis points to 3.75–4.00% at that session. Traders will watch for signs of internal division and the likelihood of another cut in December. Market odds for a December 25-basis-point cut are currently near-even, with the CME FedWatch tool showing only a slight edge for holding rates.
September Jobs Report
The delayed September nonfarm payrolls report will be released Thursday. Economists expect a gain of roughly 50,000 jobs, an improvement from August’s 22,000, while the unemployment rate is forecast at 4.3%. Though slightly better, this pace remains below early-year trends of roughly 100,000 monthly additions. Weak data could revive rate cut expectations, potentially supporting a rebound in risk assets, including bitcoin.
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