Bitcoin Full Bull Market? $600 Billion Market Cap Created in 8 Days, Nvidia 30x Computing Power Breakthrough

The cryptocurrency market has recently seen a sharp rebound, with total market capitalization increasing by nearly $600 billion in just 8 days, and Bitcoin's price briefly breaking through the $80,000 mark. On-chain analysts point out that both the bear market and early bull market phases have ended, and the market may have entered a full bull market. Meanwhile, Nvidia's upcoming next-generation chip claims to deliver over 30 times the computing power improvement, potentially bringing new growth momentum to AI and crypto markets.

Market Sentiment and On-chain Signals

The Crypto Fear & Greed Index has risen to 74, approaching the "Extreme Greed" zone. Previously, the index had long been at "Extreme Fear" levels between 8 and 14, and market sentiment has reversed dramatically in a short period.

The CEO of an on-chain data provider stated that the Bitcoin bear market is over, the early bull market has also passed, and we are now in a full bull market phase. This judgment is based on multiple on-chain indicators, including price breaking above key technical levels such as the 200-day moving average.

Bitcoin and Major Asset Performance

Over the past 7 days, Bitcoin rose about 23%, Ethereum rose 29.36%, Solana rose 29.65%, and other major assets generally recorded weekly gains of over 30%. The market showed a broad-based rally, with clear signs of capital returning.

Bitcoin ETF inflows accelerated significantly, with cumulative inflows of $2.4 billion over the past 6 days, including a notably large single-day inflow yesterday. Large asset managers are becoming more positive on Bitcoin, and some believe institutional funds are driving the current rally.

US Stock Market and Tech Sector Dynamics

The US stock market was generally stable, with mixed performance among S&P 500 constituents. Tesla rose 6.02%, Google and Meta rose slightly, while chip stocks like Nvidia and Micron pulled back.

Nvidia is about to release earnings, with market expectations of around $92 billion in revenue and about $2 earnings per share. The company's new-generation chip Vera Rubin claims to deliver over 30 times the computing output, potentially significantly reducing AI inference costs and alleviating power bottlenecks.

Macroeconomic Background

The US treasury bond balance has exceeded $40 trillion, with GDP around $32 trillion, putting the debt-to-GDP ratio as high as 124% to 126%. High debt levels imply continued fiscal deficits, money printing, and inflationary pressures in the future, providing long-term support logic for hard assets like Bitcoin.

Real estate data shows that over the past 10 years, the average US mortgage rate rose from 3.4% to 6.7%, the average home price rose from $243,000 to $434,000, and monthly payments increased by about 160%. Increasing housing affordability pressure reflects the impact of currency devaluation on ordinary people.

Other Notable Signals

Russian diesel exports are declining rapidly, which could have a ripple effect on global transportation costs and the economy. Diesel is a key fuel for trucks, buses, trains, and other transport vehicles, and the supply contraction deserves attention.

Social platform X (formerly Twitter) is testing adding buy and sell buttons directly to the timeline, allowing users to send Solana and Ethereum through the platform. If fully rolled out, this feature would connect hundreds of millions of users directly to the crypto payment network.

Copper prices hit a record high, with the market widely believing that AI infrastructure construction will generate huge copper demand. Copper is indispensable in power transmission, chip cooling, and other fields, and the supply gap may persist beyond 2030.

Summary

This crypto market rebound is driven by multiple factors: on-chain indicators turning positive, sustained institutional inflows, and a macro environment favorable to hard assets. If Nvidia's new-generation chip can deliver the claimed computing power improvement, it will further reduce AI application costs, indirectly benefiting the crypto and tech sectors. Investors should pay attention to Federal Reserve policy, geopolitical risks, and changes in market sentiment, and rationally assess risks.