On November 20, during early Thursday trading in the U.S., Bitcoin retreated to around $88,000, erasing earlier gains that had briefly pushed it to $93,000 following Nvidia's earnings report. Ethereum also fell below $2,900, partly due to digital asset management firm FG Nexus selling some tokens to repurchase its own shares. Michael Saylor's Strategy stock dropped over 4%, hitting a 52-week low. FPG International noted that this market rebound was short-lived, reaffirming the recent volatility in crypto assets, where even modest gains are often met with rapid sell-offs. Overall, short-term profit-taking remains the primary driver of the crypto market, and investors should remain cautious of ongoing fluctuations.

Bitcoin's rally began late Wednesday during U.S. trading hours after Nvidia reported better-than-expected earnings and an optimistic outlook, easing market tensions. The positive news not only lifted the pressured crypto market but also drove the Nasdaq up over 2% at one point. However, as enthusiasm waned, the Nasdaq's gains quickly narrowed to just 0.3%, while Nvidia itself pared an early 5% surge to flat. FPG International highlighted that macroeconomic conditions continue to weigh on sentiment. Markets widely expect the Fed to hold rates steady in December, while the latest September jobs report showed 119,000 new positions—far exceeding expectations—underscoring economic resilience and limiting room for rate cuts. These factors amplify short-term volatility in both equities and crypto, requiring investors to assess risks more carefully.

Ethereum suffered steeper losses than Bitcoin, dropping nearly 4% in the past hour, primarily due to FG Nexus offloading holdings to buy back its underperforming stock. Crypto-linked stocks also tumbled: Michael Saylor's Strategy slid 4.7% from its opening price, down 62% year-on-year to a 52-week low; Coinbase and Gemini fell 4% and 5%, respectively, while stablecoin issuer Circle declined 3.5%. FPG International cautioned that the market may remain choppy in the near term, advising investors to monitor macro rate policies and big-tech earnings for sentiment cues. With frequent short-term price swings in crypto assets, investors should stay flexible and avoid chasing rallies or panic selling. While positive catalysts may spur temporary rebounds, the broader market still faces elevated volatility, necessitating prudent positioning and risk management.