Wu said that the latest report from QCP Capital pointed out that the strong earnings report released by Nvidia led to a typical "sell news" reaction in the crypto market, with Bitcoin falling back to 59,000 and ETH weak around 2,500. Although the overnight spot decline pushed up short-term volatility, volatility quickly fell back with the release of Nvidia's earnings report, falling by about 10 waves. The market's risk reversal for BTC and ETH 10-month periods still tends to be bearish, indicating that the market remains cautious about downside risks. With the approach of next week's US non-farm payrolls data, market volatility is expected to continue to decline, and the market is preparing for a possible interest rate cut by the Federal Reserve. The US GDP report released tonight may have a limited impact on the crypto market, especially when the report reinforces the narrative of a slowing US economy.

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