Nvidia rally pumps AI-themed cryptos; Bitcoin, Ether rise


Bitcoin and Ether rose on Friday morning in Asia, along with nearly all other top 10 non-stablecoin cryptocurrencies. The exceptions were Cardano and Tron after Tron’s gains earlier in the week. The U.S. posted stronger-than-expected jobless claims as investors continue to monitor the country’s ongoing debt ceiling negotiations.

Nvidia boost for cryptocurrencies

Bitcoin rose 1.82% over the last 24 hours to US$26,431 at 9:30 a.m. in Hong Kong, according to data from CoinMarketCap. The world’s largest cryptocurrency by market capitalization was, however, down 1.53% over the past seven days.

Ether climbed 1.85% in the past 24 hours to US$1,800. It remained little changed over the past week.

“This week, Bitcoin briefly dipped below its two-week range between US$26,500 and US$27,000, now challenging the critical 200-weekly moving average at $26,275,” said Rachel Lin, chief executive officer of Singapore-based decentralized derivatives exchange Synfutures.

“A close below this weekly range could negatively impact Bitcoin and the broader crypto market, but a bounce from this…

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