Nvidia Earnings Fuel Bitcoin Surge as Markets Eye Fed Clarity

Nvidia's earnings beat has sent shockwaves through markets, boosting US stocks and cryptocurrency prices. Bitcoin (BTC) rebounded towards $81,000 around Thursday's Wall Street open as Nvidia's Q2 earnings of $96.2 billion nearly quadrupled expectations.

The tech-heavy Nasdaq Composite Index rose 1% at the time of writing, with Nvidia's stock surging over 9%. The market cap gain was a staggering $400 billion, making it one of the largest single-day gains in history, according to The Kobeissi Letter.

Markets are now looking ahead to the US Federal Reserve's Jackson Hole economic symposium, where chairman Kevin Warsh is set to deliver a keynote speech on Friday. Analysts expect Warsh's address to provide clarity on future policy shifts amidst mixed inflation data and volatile government bond yields.