Nvidia's Earnings Surprise Lifts Bitcoin Above $80K

Nvidia's surprise earnings beat sent shockwaves through US equities and risk assets, lifting Bitcoin above $80,000.

The chipmaker reported Q2 earnings of $96.2 billion, nearly $4 billion above expectations, prompting a major rally in its shares on Thursday.

This stock surge translated into a wider market tailwind, with the Nasdaq Composite up around 1% at the time of writing and Nvidia's market capitalization increasing by more than $400 billion.

The momentum from US equities reinforced 'risk-on' conditions that typically support higher-beta assets, causing Bitcoin to move back toward and above $80,000 as bulls tried to defend the level early in Thursday's session.