Nvidia Earnings Send Bitcoin Surging Past $80K

Bitcoin (BTC) surged past $80,000 on Thursday following Nvidia's impressive Q2 revenue of $96.2 billion, which exceeded analyst forecasts by approximately $4 billion.

The chipmaker's shares soared over 9% during trading, boosting its market capitalization by more than $400 billion within hours.

Market commentary platform The Kobeissi Letter highlighted that Nvidia appeared 'on track to post the 3rd largest single-day market cap gain by a stock in history.'

The technology sector's rally boosted the Nasdaq Composite index by 1% and triggered corresponding gains across cryptocurrency markets.