Bitcoin Stalls at $80K Amid Nvidia Surge
The price of Bitcoin has stalled at around $80,000 after reaching a high of $81,280 overnight. The eight consecutive days of inflows into US spot Bitcoin ETFs totaling $2.8 billion have been a significant factor in the recent price movement.
Solana was the standout performer among major cryptocurrencies, rising more than 4% on the day and 20% over the past week.
Nvidia's quarterly revenue of $96.2 billion and forecast for over $105 billion next quarter sent its stock surging 9%, driving a boost in the tech sector as a whole.
The Nasdaq rose 1.6%, the S&P 500 gained 0.7%, and the Dow added 0.2% on the back of Nvidia's results, but markets are now focused on Fed Chair Kevin Warsh's first Jackson Hole keynote for signals ahead of the September FOMC meeting.