Bitcoin (BTC $85,959), ether (ETH $2,810), XRP ($2.03), and other major tokens are attempting to stabilize after recent losses, as market attention turns to several high-impact events that could influence both equities and crypto. Key catalysts this week include Nvidia’s earnings report, the Federal Reserve’s October meeting minutes, and the delayed September U.S. jobs report.
Nvidia Earnings
Nasdaq-listed chipmaker Nvidia (NVDA) is set to release 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 currently valued around $4.42 trillion.
Investors will watch for guidance on fourth-quarter performance, deliveries of the new Blackwell GPU architecture, and exposure to China. Nvidia plays a pivotal role in AI and blockchain computing, giving its earnings unusually broad market implications. Its GPUs are widely used in AI training and crypto-related applications, fueling the AI-driven bull run since 2023.
The company’s $30 billion compute partnership with Microsoft, running on Nvidia’s Grace Blackwell and Vera Rubin systems, highlights its continued dominance in AI infrastructure. Strong results could energize the AI sector, potentially boosting crypto sentiment.
Shares of Nvidia have cooled from a late-October peak when the stock briefly valued the company at $5 trillion. NVDA is now up roughly 31% year-to-date at $181 per share, while the Nasdaq 100 has declined over 6% from its all-time high. Bitcoin has fallen more than 25% from its October 8 peak above $126,000 amid policy uncertainty, limited economic data, and the government shutdown.
FOMC Minutes
The Federal Reserve’s October meeting minutes will be released at 19:00 GMT Wednesday. At that meeting, the Fed cut rates by 25 basis points to 3.75–4.00%. Traders will look for insights into divisions among policymakers regarding further easing and the likelihood of a December rate cut.
Market odds for a December 25-basis-point cut have recently fallen to near-even levels, with tools like CME FedWatch showing only a slight edge for holding rates. The October meeting occurred during the longest U.S. government shutdown in history, delaying key data releases. With operations resumed, the December 9–10 FOMC meeting—including an updated dot plot and Summary of Economic Projections—will be critical.
September Jobs Report
The delayed September nonfarm payrolls report is scheduled for Thursday, providing a key labor market snapshot. Economists forecast a gain of roughly 50,000 jobs, an improvement over August’s 22,000, while the unemployment rate is expected to remain at 4.3%.
Though slightly better than August, the pace remains below the roughly 100,000 monthly additions seen earlier this year. Weak data could reignite Fed rate cut expectations, potentially boosting risk assets, including bitcoin.
