Bitcoin rose toward $81,000 on Thursday as risk assets extended gains following Nvidia’s stronger-than-expected quarterly earnings. The cryptocurrency reached an intraday high of $80,808, according to TradingView data, after Nvidia reported second-quarter revenue of $96.2 billion, nearly $4 billion above consensus estimates.
Nvidia’s stock surged more than 9% in after-hours trading, adding over $400 billion to its market capitalization. The tech-heavy Nasdaq Composite gained about 1% during U.S. trading, with the advance supported by the chipmaker’s results. The company’s single-day market cap increase ranks among the largest on record, according to trading resource The Kobeissi Letter.
Market focus is shifting to the Federal Reserve’s Jackson Hole economic symposium, where Chair Kevin Warsh is scheduled to deliver a keynote speech on Friday. Investors are seeking clarity on the central bank’s policy path amid mixed U.S. inflation data and elevated long-term Treasury yields. Nationwide’s chief U.S. economist, Kathy Bostjancic, noted that Warsh’s remarks could influence market expectations given the recent volatility in interest rates and uncertainty over inflation dynamics.
Bitcoin’s upward momentum has coincided with a reduction in sell-side pressure above $82,000, ahead of a $6.58 billion options expiry on Deribit on Friday. The event covers 81,700 BTC and typically amplifies price volatility as contracts settle. Analyst David Eng said the derivatives structure holding Bitcoin near resistance levels is weakening, adding that a break above $82,000 could clear the path toward $85,000.
Crypto liquidations totaled approximately $417 million over the past 24 hours, according to CoinGlass, as Bitcoin buyers absorbed liquidity near prior resistance zones. The options expiry may further compress price action, with open interest concentrated around key strike levels.
