Bitcoin rebounded above $80,000, reaching a local high near $80,808, as Nvidia’s stronger-than-expected earnings boosted both US equities and crypto markets.
Nvidia reported $96.2 billion in quarterly revenue, nearly $4 billion above expectations. Its shares surged more than 9%, adding over $400 billion in market capitalization, while the Nasdaq rose about 1%.
Attention is now shifting to Federal Reserve Chair Kevin Warsh’s Jackson Hole speech on Friday, with investors looking for clues on inflation, interest rates and the Fed’s policy outlook.
Meanwhile, analysts said Bitcoin’s sell-side liquidity wall is beginning to weaken ahead of Friday’s approximately $6.6 billion August options expiry on Deribit. Around 81,700 BTC in options are set to expire.
Analyst David Eng said a sustained break above $82,000 could clear the way toward $85,000 or higher, as resistance from derivatives positioning begins to ease.
Crypto liquidations totaled roughly $417 million over the past 24 hours as Bitcoin buyers continued challenging overhead resistance. $BTC
Nvidia reported $96.2 billion in quarterly revenue, nearly $4 billion above expectations. Its shares surged more than 9%, adding over $400 billion in market capitalization, while the Nasdaq rose about 1%.
Attention is now shifting to Federal Reserve Chair Kevin Warsh’s Jackson Hole speech on Friday, with investors looking for clues on inflation, interest rates and the Fed’s policy outlook.
Meanwhile, analysts said Bitcoin’s sell-side liquidity wall is beginning to weaken ahead of Friday’s approximately $6.6 billion August options expiry on Deribit. Around 81,700 BTC in options are set to expire.
Analyst David Eng said a sustained break above $82,000 could clear the way toward $85,000 or higher, as resistance from derivatives positioning begins to ease.
Crypto liquidations totaled roughly $417 million over the past 24 hours as Bitcoin buyers continued challenging overhead resistance. $BTC
