Key Highlights
- Bitcoin retreated to just below $80,000 following an overnight peak of $81,280, while U.S. spot ETFs recorded $2.8 billion in cumulative inflows across eight consecutive trading days
- Solana posted gains exceeding 4% in 24-hour trading and climbed 20% over the seven-day period, outperforming other leading cryptocurrencies
- Nvidia delivered quarterly revenue of $96.2 billion and projected next-quarter sales surpassing $105 billion, triggering a 9% stock rally
- The Nasdaq climbed 1.6%, the S&P 500 advanced 0.7%, and the Dow Jones increased 0.2%, driven by Nvidia’s strong performance
- Market participants are focused on Fed Chair Kevin Warsh’s inaugural Jackson Hole address, which may provide insights into monetary policy direction before the September FOMC decision
Bitcoin hovered just beneath the $80,000 threshold during Friday’s Asian trading session after reaching an intraday high of $81,280 the previous night. This price action coincided with eight consecutive days of positive flows into U.S. spot Bitcoin ETFs, accumulating $2.8 billion. August 2026 has now recorded more than $3 billion in ETF inflows, establishing it as the year’s most robust month to date.
Solana emerged as the top gainer among major digital assets, advancing more than 4% intraday to approach $101. Across the weekly timeframe, Solana has appreciated 20%. Ether posted modest gains of just over 1% to trade around $2,492, XRP increased nearly 2% to approximately $1.43, and BNB climbed over 1% to settle near $714.
Dogecoin remained relatively unchanged near the 9-cent level, while HYPE was the sole major token recording losses, declining under 1% to approximately $82.
Ethena Dominates Top 100 Gains
Ethena’s ENA token topped the performance charts within the top 100 cryptocurrencies, rising 6% on the day and posting a remarkable 45% weekly gain. These advances came after a governance decision to direct protocol revenues toward token buybacks and reorganize venture capital token unlock schedules.
In broader markets, Brent crude declined to just below $90 per barrel, falling more than 5% over the week. The decrease followed an agreement between Iran and Oman regarding oversight of the Strait of Hormuz, effectively eliminating a potential energy-related inflation catalyst.
The 10-year Treasury yield remained at 4.67%, declining seven basis points over the week. The dollar index traded just above 99, while gold retreated to $4,587 per ounce.
Nvidia Drives Tech-Led Rally
Nvidia announced quarterly revenue reaching $96.2 billion and provided third-quarter guidance exceeding $105 billion. These results propelled a 9% single-session stock surge, creating $442 billion in added market capitalization.
The Nasdaq advanced 1.6% during the session, the S&P 500 gained 0.7%, and the Dow Jones increased 0.2%. Technology emerged as the sole major S&P 500 sector posting positive returns.
The Wall Street Journal disclosed that Nvidia had temporarily suspended certain transactions within a financing program that provided credit assistance to AI cloud service providers in return for revenue-sharing arrangements.
Strong quarterly results from Salesforce additionally supported software equities, contributing to the technology sector’s broad-based momentum throughout the trading day.
Attention now shifts to Fed Chair Kevin Warsh’s maiden Jackson Hole keynote address, scheduled for Friday afternoon. Warsh has offered limited commentary on his rate trajectory perspective, and market participants are scrutinizing his remarks for policy direction ahead of the September 16 FOMC gathering.
Futures markets currently assign a 35% probability to a rate increase in September and fully incorporate an adjustment by December.
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