Nvidia Earnings Send Bitcoin Soaring Towards $81K

Bitcoin has rebounded to above $80,000 after Nvidia's earnings exceeded expectations.

Nvidia reported Q2 earnings of $96.2 billion, nearly $4 billion more than anticipated, causing its stock to surge over 9% and adding $400 billion to its market cap.

The tech-heavy Nasdaq Composite Index also gained 1%, with Nvidia now poised to post the third-largest single-day market cap gain in history.

Markets are looking ahead to US Federal Reserve Chair Kevin Warsh's keynote speech at the Jackson Hole economic symposium on Friday, hoping for clarity on future policy shifts amidst mixed inflation data and volatile government bond yields.