Bitcoin's Nvidia-Led Gains Prove Short-Lived, With Price Slumping Back to $88K

Group 1 - Bitcoin (BTC) experienced a decline back to $88,000 after briefly rallying above $93,000, indicating a pattern of selling pressure following modest gains [1] - Nvidia (NVDA) reported better-than-expected earnings and a positive outlook, which initially boosted both the crypto market and the Nasdaq index by over 2% [1] - The Nasdaq index has seen a rapid reversal of gains, now only up by 0.3%, with Nvidia's stock trading flat after a previous increase of more than 5% [2] Group 2 - The September employment report revealed a stronger-than-expected addition of 119,000 jobs, contributing to a macroeconomic sentiment that the Federal Reserve is unlikely to cut interest rates in December [2] - Cleveland Fed President Beth Hammack expressed concerns about high stock prices and inflation, reminiscent of Alan Greenspan's "irrational exuberance" speech from 1996, which preceded a significant stock market rally [3] Group 3 - Ethereum's ether (ETH) fell nearly 4% in a short time frame, potentially impacted by FG Nexus selling a portion of its holdings to buy back its significantly devalued stock [4] - Crypto-related stocks faced substantial losses after initial gains, with Michael Saylor's Strategy (MSTR) down 4.7% and 62% year-over-year, reaching a new 52-week low of $178 [5] - Exchanges Coinbase (COIN) and Gemini (GEMI) saw declines of 4% and 5%, respectively, while stablecoin issuer Circle (CRCL) dropped by 3.5% [5]