Crypto Soars as Nvidia Predicts AI Chip Surge

Bitcoin (BTC) blasted past $80,000 this week, rising approximately 5.5% in just one day amidst ongoing Federal Reserve rate increases and congressional setbacks on crypto rules.

Crypto-linked equities saw strong gains as well: Strategy jumped 12%, Coinbase climbed 10%, and Robinhood rose 8%. The cryptocurrency's strength provided momentum across the digital asset sector, with capital flowing back into this asset class.

Nvidia's chief executive Jensen Huang projected that the company's chip sales volume could double between 2026 and 2027. Meanwhile, ten-year Treasury yields reached 5%, creating headwinds for equities as nine out of eleven S&P 500 sectors declined.