As fears regarding AI potentially disrupting various industries dissipate, US stocks have generally risen. Nvidia (NVDA) gained 1.41%, and its earnings report released after hours once again exceeded expectations, sending the stock price briefly breaking through $200. Boosted by NVIDIA's earnings, Bitcoin (BTC) touched $69,988, attempting to challenge the $70,000 mark, but subsequently faced strong selling pressure and fell back to $68.5K. Ethereum (ETH) surged 7%, reclaiming the $2,000 level.

NVIDIA Saves the Global Market Again, Earnings and Gross Margin Smash Records

Nvidia released its earnings after the bell, reporting revenue of $68.1 billion (up 73% YoY), far exceeding market expectations of $65.9 billion. The production ramp-up of Blackwell was better than expected, driving the stock up 12% in after-hours trading, with its market cap breaking through $4.8 trillion.

Earnings per share (EPS) came in at $1.62, with gross margin maintaining an impressive high of 75.2%. Nvidia (NVDA) closed up 1.44% on Wednesday at $195.62, with gains continuing in after-hours trading.

Circle Reports Strong Earnings; CRCL and COIN Surge

Stablecoin issuer Circle (CRCL) saw its stock soar over 35% yesterday. The company released earnings pre-market, showing that strong demand for its stablecoins boosted profits and revenue despite the Q4 digital asset slump. Meanwhile, its strategic partner (COIN) also saw its stock rise over 13%. The platform officially launched stock trading services, moving towards the goal of a "multi-asset trading hub," helping it transform from a crypto-only exchange into a comprehensive investment platform covering stocks, ETFs, and prediction markets.

BTC Fails to Break $70K; ETH Reclaims $2K

Encouraged by NVIDIA's earnings, Bitcoin (BTC) briefly touched $69,988, attempting to challenge the $70,000 threshold, but subsequently encountered heavy selling pressure and retreated to $68,500. Ethereum staged a strong rally of 7%, reclaiming the $2,000 mark.

The total crypto market cap rose 7.23% to $2.37 trillion. However, the Fear & Greed Index remains at 11 in the "Extreme Fear" zone, indicating that market confidence is still fragile.

Bitcoin Spot ETFs recorded a net inflow of $258 million on Feb 24, the first positive flow in a week. Data shows that the average buy-in cost for ETF investors is around $83,956, meaning this group currently faces an average unrealized loss of about 23%. Whether Bitcoin can stage a strong rebound to reverse investor sentiment remains to be seen.

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