Bitcoin (BTC) rebounded toward $81,000 around Thursday's Wall Street open as Nvidia's earnings results lifted US stocks.

Bitcoin reclaimed the $80,000 level as Nvidia's $96.2 billion earnings provided a boost to both crypto and US equities. The move underscored how tightly Bitcoin now trades alongside risk appetite in broader markets — as one of the most AI-exposed bellwethers in the S&P 500, Nvidia's results are widely read as a proxy for tech-sector sentiment that has tended to spill over into crypto. Expectations are running high ahead of Federal Reserve chair Kevin Warsh's keynote speech at the Jackson Hole economic symposium on Friday, while Bitcoin analysis points to sell-side pressure easing above $82,000 ahead of a $6.6 billion August options expiry.

Nvidia earnings beat sends stocks, crypto higher

Data from TradingView showed new local highs of $80,808 for BTC/USD, with bulls again seeking to cement the $80,000 mark as support.

Nvidia surprised to the upside after Wednesday trading, posting Q2 earnings of $96.2 billion — nearly $4 billion more than expected. On Thursday, its stock surged more than 9% and its market cap gained over $400 billion, while the tech-heavy Nasdaq Composite Index was 1% higher at the time of writing.

"Nvidia is now on track to post the 3rd largest single-day market cap gain by a stock in history," trading resource The Kobeissi Letter wrote in a reaction on X.

Markets are now turning to the US Federal Reserve's Jackson Hole economic symposium, already underway, ahead of chair Kevin Warsh's keynote speech on Friday. The annual Wyoming gathering has historically served as a platform for Fed chairs to signal policy shifts, which is why traders watch the address so closely. Hopes are that Warsh, known for being tight-lipped on future policy shifts, will nonetheless tame market uncertainty amid mixed US inflation data and volatile government bond yields.

"Chairman Warsh's address is poised to be extremely key given the jump in long-term interest rates and high uncertainty over the path of inflation and Fed's reaction function going forward," Nationwide chief US economist Kathy Bostjancic said, quoted by CNBC.

Analyst sees Bitcoin sell wall thinning ahead of options expiry

Crypto liquidations edged higher to around $417 million over 24 hours, per data from CoinGlass, after Bitcoin buyers chipped away at an area of significant ask liquidity. Previously, Cointelegraph reported that this zone extended up to $86,000, creating friction for further price upside.

Analyst David Eng described this liquidity wall as "weakening" ahead of Friday's $6.58 billion (81,700 BTC) August options expiry event on crypto exchange Deribit. Such monthly expiries on Deribit, the largest crypto options venue, are among the market's recurring volatility catalysts.

"BTC is compressed under resistance just as the derivatives structure holding it there is about to weaken. Break $82K and the path to $85K+ gets much cleaner," he told X followers.

Bitcoin options expiry events occur when options contracts end, allowing traders to buy or sell BTC at a specific price. This can spark increased market volatility, with price gravitating toward a particular strike price.