Nvidia(US:NVDA) Benzinga·2025-10-08 02:12Cryptocurrency Market Overview - Leading cryptocurrencies experienced significant declines, with Bitcoin dropping 2.17% to $122,010.53 and Ethereum falling 4.13% to $4,486.78, amidst a broader market slump [1][2] - Bitcoin's price fell below $121,000, ending a week-long rally, while trading volume surged by 15%, indicating high selling pressure [3] - In the last 24 hours, 167,851 traders were liquidated, totaling $621.29 million in liquidations, with nearly $470 million in bullish longs wiped out [4] Market Capitalization and Sentiment - The global cryptocurrency market capitalization decreased by 2.58% to $4.16 trillion [5] - Bitcoin's open interest fell by 3.33% to $90.81 billion, with over 50% of Binance futures traders remaining bearish [4] Stock Market Performance - The S&P 500 index fell by 0.38% to close at 6,714.59, ending a seven-day winning streak, while the Nasdaq Composite and Dow Jones also saw declines [6] - Oracle Corp. faced financial challenges, impacting tech stocks negatively [6] Gold Market Dynamics - Gold prices surged to a new high of $4,000 per ounce, coinciding with the ongoing U.S. government shutdown [7] Analyst Predictions - Analyst Michaël van de Poppe expressed optimism for new all-time highs for Ethereum, suggesting a potential reversal in the ETH/BTC ratio [8] - Ali Martinez highlighted that the $4,000–$4,800 range has been a "danger zone" for Ethereum since 2021, often leading to corrections [9]