Traders are closely monitoring Bitcoin's resistance at $112,000 and discussing the potential impact of Nvidia's earnings on cryptocurrency volatility. The community exhibits mixed emotions, with some traders relieved about their 112P positions, while others note Ethereum's weak performance. The debate continues over Bitcoin's correlation with traditional markets. Ahead of Nvidia's earnings, discussions focus on Bitcoin's implied volatility being too low, while Nvidia's implied volatility reaches 100%, anticipating a 7% price movement. There is significant disagreement on the correlation, with some arguing that despite historical precedents, Bitcoin may not react strongly to SPX movements. Premium sellers dominate the strategy landscape, with traders warning against long gamma trades, as one trader reports losses despite brief scalping opportunities.