First ETF Outflow Day in Nearly A Month, Coinbase Pushes for ETH ETF
Following NVDA’s substantial earnings beat announced after yesterday’s market close, equities have experienced a significant surge, with the QQQ climbing 2.4% and the SPX advancing 1.6%. The DXY remains unchanged for the day, while gold is experiencing a slight decline, and the yield curve is flattening, marked by a notable increase in short-term rates but a decrease in the 20-year and 30-year rates. In the crypto market, Bitcoin has not seen the same bounce as NVDA but is still managing to sustain above the $51.5k threshold. Meanwhile, ETH is on the verge of breaking the $3k barrier, showing increased momentum relative to BTC. The notable standouts in the crypto market this morning have been AI-related tokens such as AGIX -0.10% , WLD, and FET -1.80% , which have emerged as the major winners over the past 12 hours. This is an AI narrative-based rally sparked by Nvidia’s earnings report, which underscored its optimistic outlook on the growth potential of AI.
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