Bitcoin Tops $80K on Nvidia's $96B Earnings Beat — SkimNews
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- Bitcoin hit new local highs of $80,808 per TradingView, with bulls aiming to cement $80,000 as support.
- Nvidia posted Q2 earnings of $96.2 billion — nearly $4 billion above expectations — and its stock surged over 9% on Thursday, adding $400+ billion in market cap; The Kobeissi Letter called it the third-largest single-day market cap gain by a stock in history.
- The tech-heavy Nasdaq Composite rose 1% as risk-on sentiment spread, with crypto liquidations hitting approximately $417 million over 24 hours per CoinGlass.
- Markets are focused on Fed Chair Kevin Warsh's Friday keynote at the Jackson Hole symposium, where hopes are he will address long-term interest rates and inflation uncertainty.
- Nationwide chief US economist Kathy Bostjancic called Warsh's address 'extremely key' given the jump in long-term rates.
- Analyst David Eng described the ask-liquidity wall extending to $86,000 as 'weakening' ahead of Friday's $6.58 billion (81,700 BTC) options expiry on Deribit, noting a break above $82K makes the path to $85K+ much cleaner.
Why it matters: Friday's $6.58 billion Deribit options expiry — 81,700 BTC — collides with Fed Chair Warsh's Jackson Hole keynote, the dual test for Bitcoin's $80,000 push; analyst David Eng says breaking $82K clears a weakening ask-liquidity wall toward $85K+.
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