Bitcoin (BTC) Price: Nvidia’s Earnings Beat Just Pushed BTC Back Above $80,000

TLDR

• Bitcoin reclaimed $80,000 after Nvidia posted Q2 earnings of $96.2 billion, beating expectations by ~$4 billion
• US spot Bitcoin ETFs recorded $242 million in net inflows on Aug. 27, extending a 9-day streak
• Bitcoin’s Coinbase Premium flipped positive for the first time since May, signaling stronger US demand
• Analyst David Eng says the sell wall above $82,000 is weakening ahead of a $6.58 billion options expiry
• Fed Chair Kevin Warsh’s Jackson Hole speech on Friday is being watched closely by markets

Bitcoin climbed back above $80,000 on Thursday, hitting a local high of $80,808 on the back of a strong earnings report from Nvidia.

Nvidia posted Q2 revenue of $96.2 billion, beating Wall Street expectations by nearly $4 billion. Its stock jumped more than 9% on Thursday, adding over $400 billion to its market cap in a single session. Trading resource The Kobeissi Letter noted on X that Nvidia was “on track to post the 3rd largest single-day market cap gain by a stock in history.”

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