Key Highlights
- Bitcoin surged past $80,000 following Nvidia’s impressive Q2 revenue of $96.2 billion, exceeding forecasts by approximately $4 billion
- US Bitcoin spot ETFs saw $242 million in net inflows on Aug. 27, marking the ninth consecutive day of positive flows
- The Coinbase Premium indicator turned positive for the first time since May, indicating heightened US investor demand
- Market analyst David Eng notes the resistance above $82,000 is softening before Friday’s $6.58 billion options expiration
- Market participants are closely monitoring Fed Chair Kevin Warsh’s upcoming Jackson Hole remarks on Friday
Bitcoin surged past the $80,000 threshold on Thursday, reaching an intraday peak of $80,808, fueled by impressive quarterly results from chipmaker Nvidia.
Nvidia reported second-quarter revenue totaling $96.2 billion, surpassing analyst projections by approximately $4 billion. The company’s shares surged over 9% during Thursday’s trading session, adding more than $400 billion to its valuation in just one day. Market analysis firm The Kobeissi Letter highlighted on X that Nvidia was “positioned to achieve the 3rd largest single-session market cap increase by any stock in recorded history.”
The technology sector’s strong performance boosted the Nasdaq Composite by 1%, creating upward momentum across cryptocurrency markets.
Market analyst Ted Pillows observed on X that Bitcoin had successfully recaptured both the 200-week exponential moving average and the Bull Market Support Band. He informed followers that BTC is now testing its $83,000 resistance level, with a weekly close above this threshold potentially confirming the end of the bear market phase.
Bitcoin ETFs Post Strongest Inflow Streak Since October 2025
US-listed spot Bitcoin ETFs have recorded positive net inflows for nine consecutive trading sessions. August 27 saw $242 million in fresh capital. The cumulative inflows during this period reached $3.51 billion, representing the strongest performance since October 2025, based on SoSoValue tracking.
BlackRock’s IBIT fund has been the primary driver of these flows. Since numerous ETFs utilize Coinbase for custody services, this connects to another significant market development.
Bitcoin’s Coinbase Premium metric turned positive on Friday for the first time since May, based on Coinglass tracking. This indicates BTC is commanding higher prices on Coinbase compared to Binance, reflecting increased purchasing activity from US institutional and retail investors.
Upcoming Options Expiration May Impact Price Action
Cryptocurrency liquidations totaled approximately $417 million in the past 24 hours, according to CoinGlass metrics. Significant pressure originated from concentrated sell-side liquidity positioned between current price levels and $86,000.
Market analyst David Eng characterized this resistance zone as “deteriorating” in advance of Friday’s $6.58 billion options expiration event on Deribit. He stated on X: “A breakout above $82K opens a clearer trajectory toward $85K and beyond.”
The 50-week simple moving average is positioned around $81,000 and has been identified by market technicians as a critical threshold requiring confirmation.
Investors are also focused on Fed Chair Kevin Warsh’s scheduled keynote presentation at the Jackson Hole economic symposium on Friday. Nationwide’s chief economist Kathy Bostjancic characterized the speech as “critically important” considering recent movements in long-term interest rates and ongoing inflation concerns.
Bitcoin spot exchange-traded funds maintained their inflow momentum through August 27, marking the ninth straight day with $242 million in net positive flows recorded for that trading session.
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