Cryptos rebound, supported by Nvidia and awaiting an agreement in the U.S.

Moderate rebound in the cryptocurrency market. Bitcoin (BTC) has risen almost 1% in the last 24 hours and is trying to regain the $26,500 level, while Ethereum (ETH) has increased 1.5% and is back to the $1,810 level.

"Bitcoin has continued to drift lower today although it has rebounded around $26,000, around the lows from a couple of weeks ago. This represents the next level of technical support below, with $25,000 being the next big test below. The price remains almost $10,000 above where it started the year so even taking the more than 15% correction into account since mid-April, it's still more than 50% up this year," stressed Craig Erlam, senior market analyst at OANDA.

Numerous analysts have pointed out that Bitcoin and cryptocurrencies as a whole are waiting for the U.S. debt ceiling issue to be resolved once and for all. Yesterday, negotiations between Democrats and Republicans seem to have ended with a nearing of positions. The Republicans want a compromise to cut public spending for two years before allowing an increase in indebtedness. The main difference lies in the amount of that spending cut.

"McCarthy and I have had several productive conversations and, in fact, our staffs continue to meet as we speak, and they are making progress," Joe Biden commented on Thursday afternoon. "I believe we will reach an agreement that allows us to move forward and protects the workers of this country."

Meanwhile, upwardly revised first-quarter GDP and positive weekly unemployment numbers appear to have provided support for digital assets. According to the U.S. Commerce Department's Bureau of Economic Analysis, the world's top economy grew at 1.3% between January and March, a reading that reflects "an upward revision to inventory investment."

Also, weekly jobless claims rose to 229,000 in the week that ended on May 20, rising from 225,000 in the previous seven days (revised down from 242,000), according to data released by the U.S. Labor Department. The consensus expected a higher increase to 245,000.

On the other hand, technology stocks continue to drive cryptos. In this case, caused by Nvidia's strong rise after publishing better-than-expected results and an even more optimistic outlook. The figures shot up 24% for the technology company, which is approaching $1 trillion in market capitalization. Naeem Aslam, chief investment officer at Zaye Capital Markets, commented that "Nvidia has risen more than 115% year-to-date on investor enthusiasm for artificial intelligence (AI)."

In the rest of the market, there´s a positive tone. Ripple (XRP) has soared 2% on the last day and Polygon (MATIC) has risen 1.4%. Among the large tokens, Solana (SOL) has fallen by 0.91%.