Bitcoin Surges Past $80K as Markets Eye Nvidia Earnings and Fed Signals

US equity markets closed in positive territory on Tuesday, led by the Nasdaq's 0.7% gain, but market internals told a different story.

The semiconductor sector initially showed strength due to declining Treasury yields and retreating oil prices, but enthusiasm waned as traders awaited Nvidia's highly anticipated quarterly results set for Wednesday.

Nvidia's earnings will be scrutinized for evidence of sustained momentum in artificial intelligence chip demand, with analysts already pricing in lofty market expectations.

Cryptocurrency markets saw Bitcoin surge past $80,000 for the first time since spring, driven by dollar devaluation worries and capital flows into alternative stores of value.