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Bitcoin rebounds toward $81K as Nvidia earnings lift risk assets

BTC/USD hit a new local high near $80,808, while crypto liquidations rose to about $417 million over 24 hours after Nvidia’s earnings beat.

Reported · Written up by our desk · Market Structure

Bitcoin and other crypto assets rose alongside US stocks after Nvidia reported a Q2 earnings beat that came in roughly $4 billion above expectations, lifting risk sentiment in broader markets, according to Cointelegraph.

Bitcoin rebounded toward $81,000 around the US market open, with TradingView data showing new local highs of about $80,808 for BTC/USD as buyers tried to hold the $80,000 area.

Cointelegraph reported that traders are now looking toward the US Federal Reserve’s Jackson Hole symposium, where Chair Kevin Warsh is scheduled to deliver a keynote address on Friday, amid mixed inflation data and volatile government bond yields.

In the derivatives space, crypto liquidations edged higher to around $417 million over the prior 24 hours, Cointelegraph said, after buyers chipped away at sell liquidity, with market focus also shifting to Friday’s $6.58 billion August options expiry event on Deribit.

Latest closeBitcoin $79,985.12 ▲1.2%

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