Bitcoin Soars Above $80,000 as Nvidia Earnings Ignite Market Frenzy

Nvidia's quarterly earnings beat sent shockwaves through markets on Thursday, propelling Bitcoin towards $81,000.

The tech giant reported Q2 earnings of $96.2 billion, nearly $4 billion more than expected, sending its stock surging over 9% and adding $400 billion to its market cap.

This boost in risk assets also pushed the Nasdaq Composite Index higher by 1%, with traders eagerly awaiting US Federal Reserve chair Kevin Warsh's keynote speech at the Jackson Hole economic symposium on Friday.

Nationwide chief US economist Kathy Bostjancic noted that Warsh's address would be 'extremely key' in taming market uncertainty amidst mixed US inflation data and volatile government bond yields.