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  • BTC ignored the rally again. Should we worry? šŸ‘€

BTC ignored the rally again. Should we worry? šŸ‘€

PLUS: Nvidia blows out earnings, stocks snap back, BTC stays stuck under $92K. WLFI wallets frozen, XRP bleeds post-ETF, and quantum fears hit center stage again.

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Global markets snapped back on Thursday as Nvidia’s earnings blowout reignited the AI trade. Stocks rallied, tech got its mojo back and even Bitcoin-linked mining stocks rebounded.

Bitcoin, by contrast, remains mired below $92,000, refusing so far to follow risk assets higher.

That divergence is raising eyebrows.

For undercurrents, the crypto market appears increasingly stressed:

  • More than 580,000 BTC moved onto exchanges in November, the largest monthly inflow since a market-driven spike in early 2018 and an unmistakable sign of investor jitters.

  • Q3 leverage spiked to a record high as traders moved heavily into DeFi perps and options, with spot liquidity drying up.

  • And U.S. data is not coming to the rescue, September added just ~50,000 new jobs, suggesting an economy that’s suddenly losing steam.

But here’s the part, whatever, everybody will be whispering about today:

Is the AI super-cycle taking over from the crypto cycle we were meant to be having?

The AI boom ā€œhas a lot more ways to go,ā€ says Nvidia CEO Jensen Huang.

And Wall Street is voting in billions.

Crypto? It’s barely moving.

Some traders are now saying that the capital inflow that has historically gone into Bitcoin in times of macro uncertainty is being sucked up by AI hardware and model-training boom, a ā€œsuper-cycleā€ with real earnings and demand.

šŸ“Š Market Watch

1ļøāƒ£ Trumps WLFI token is hit before launching.

World Liberty Financial, associated with Trump, froze 272 wallets after phishing and leaked seed phrases enabled attackers to empty user accounts before WLFI went live.

The team burnt 166M token ($22M) to ensure that compromised wallets are neutralized and is reallocating the funds only after rigorous identity checks.

2ļøāƒ£ Nvidia’s money-loop powered AI gets weirder I

Nvidia is spending billions on A.I. companies … that in turn spend billions buying Nvidia chips. Anthropic raises $10B, commits to purchase $30B of Azure compute (much of which will be comprised of Nvidia hardware).

OpenAI? Nvidia invested $6.6B, then OpenAI signed up to use 10 gigawatts worth of Nvidia systems. Even the skeptics are wondering: Is Nvidia financing its own demand?

Wall Street doesn’t care. Nvidia beat earnings again and the stock popped +8% after hours.

3ļøāƒ£ā€‚Trump to meet NYC's new mayor after months of insults

Trump to meet NYC’s incoming mayor Zohran Mamdani at White House on Friday, in surprise twist after calling him a ā€˜communist’ and threatening to cut funding.

It’s a high-stakes sit-down between two men who spent the year attacking each other but are now finding it impossible to avoid cooperating as voters clamor for economic relief.

šŸ“Š Chart our Analyst is watching

Canary Capital’s XRPC launched with a first day volume of $58M and net inflows totaling over 250M USD, but market price went down to $2.14 soon after as whales were discreetly selling their initial 200M XRP.

The chart to watch: $2 support: lose it and momentum breaks; hold it and ETF inflows might rhyme with Bitcoin’s post-launch trajectory (initial selloff → accumulation → breakout).

 šŸ¤ Top Tweets

šŸŽ­ Culture Watch

Vitalik just hammered home the biggest ā€œwhat ifā€ of 2019 in Buenos Aires, cautioning that Quantum computers could break Bitcoin and Ethereum as soon as 2028, stating categorically: ā€˜elliptic curves are going to die’.

Google’s recent quantum breakthrough and Microsoft’s quantum-ready chip haven’t helped, moving the discussion from sci-fi to real technical risk. It is a ā€œlive possibilityā€ that before the 2028 U.S. election we will see a fault-tolerant quantum machine running Shor’s algorithm, researchers like Scott Aaronson now say.

šŸ” Quick Explainer: Elliptic Curves & Shor’s Algorithm

Elliptic Curve Cryptography (ECC)
This is the math that secures Bitcoin, Ethereum, and most wallets today.
It works because normal computers can’t easily reverse a private key from a public key, it would take longer than the age of the universe.

ECC = secure because the math is hard to undo.

Shor’s Algorithm (Quantum Attack Tool)
Shor’s algorithm is a quantum technique that can break ECC instantly once quantum hardware is powerful enough.
Instead of guessing for billions of years, a fault-tolerant quantum computer can crunch the key patterns in minutes or hours, exposing wallets, signatures, and old addresses.

This is why Vitalik, researchers, and cryptographers are suddenly treating quantum as a real, near-term threat, not a theory

Poll: Do you think crypto will adapt in time for the quantum era?

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