Bitcoin Reclaims $80,000 as Nvidia Earnings and ETF Inflows Lift Market
Key Takeaways
- •Nvidia reported second-quarter revenue of $96.2 billion, beating expectations by nearly $4 billion and helping drive a broad tech rally.
- •Bitcoin climbed to a local high of $80,808 as gains in technology stocks lifted sentiment across crypto markets.
- •US spot Bitcoin ETFs recorded nine straight days of net inflows, including $242 million on Aug. 27, for a total of $3.51 billion in the streak.
- •Bitcoin’s Coinbase Premium turned positive on Friday for the first time since May, indicating stronger US-based buying than on Binance.
- •Analysts are watching resistance near $81,000 to $83,000, with Friday’s Deribit options expiry and Jackson Hole remarks seen as key near-term events.
Bitcoin climbed back above $80,000 on Thursday, reaching a local high of $80,808 after Nvidia reported stronger-than-expected second-quarter earnings.
Nvidia said Q2 revenue came in at $96.2 billion, beating Wall Street expectations by nearly $4 billion. The chipmaker, one of the most heavily weighted stocks in US equity indexes, saw its shares rise more than 9% on Thursday, adding over $400 billion to its market capitalization in a single session. Trading resource The Kobeissi Letter said on X that Nvidia was “on track to post the 3rd largest single-day market cap gain by a stock in history.”
The broader tech rally helped lift the Nasdaq Composite by 1% and supported gains across crypto markets. Bitcoin has frequently traded in step with the tech-heavy Nasdaq in recent years, a correlation traders monitor as a gauge of broader risk appetite.
Analyst Ted Pillows said on X that Bitcoin had reclaimed both the 200-week EMA and the Bull Market Support Band. He added that BTC is now moving toward the $83,000 resistance area, and that a weekly close above that level would confirm the bear market bottom is in.
$BTC is almost at the $80,000 level again. The 200W EMA and Bull Market Support Band have been reclaimed, and now Bitcoin is approaching its $83,000 resistance zone. A weekly close above it means the bear market bottom is in. pic.twitter.com/Ij8bu2kLec — Ted (@TedPillows) August 27, 2026
ETF Inflows Hit Highest Level Since October 2025
US spot Bitcoin ETFs have now posted nine consecutive days of net inflows. On Aug. 27, they took in $242 million, bringing the total for the streak to $3.51 billion, according to SoSoValue. That is the strongest nine-day run since October 2025. The funds, first approved in the US in January 2024, buy and hold Bitcoin directly, so sustained inflows translate into persistent spot demand.
Bitcoin Spot ETFs See $242 Million in Net Inflows, Extending 9-Day Inflow Streak On Aug. 27 (ET), U.S. spot Bitcoin ETFs recorded $242 million in net inflows, extending their streak to nine consecutive days. Spot Ethereum ETFs saw $235 million in net inflows, also marking nine… pic.twitter.com/JLJpZ8CGyy — Wu Blockchain (@WuBlockchain) August 28, 2026
BlackRock’s IBIT, the largest US spot Bitcoin ETF by assets, has led the group. Many of these funds use Coinbase as a custodian, which has drawn additional attention to a separate market indicator.
Bitcoin’s Coinbase Premium flipped positive on Friday for the first time since May, according to Coinglass. The premium means Bitcoin is trading at a higher price on Coinbase than on Binance, which is typically viewed as a sign of stronger demand from US-based buyers.
Options Expiry and Key Resistance Levels Ahead
Crypto liquidations totaled about $417 million over the previous 24 hours, according to CoinGlass data. Much of that pressure came from a band of heavy ask liquidity between current levels and $86,000.
Analyst David Eng said that liquidity wall is weakening ahead of Friday’s $6.58 billion options expiry on Deribit, the largest crypto options exchange. He wrote on X: “Break $82K and the path to $85K+ gets much cleaner.”
$BTC : THE $82K WALL IS WEAKENING BTC: $80.6K Max gamma: $80K Call wall: $82K Next major level: $85K Tomorrow, 25.7% of gross gamma expires. Meanwhile, 30-day calls are trading richer than puts. Translation: BTC is compressed under resistance just as the derivatives… pic.twitter.com/Tm6PbBN6wm — David (@david_eng_mba) August 27, 2026
The 50-week simple moving average is near $81,000 and has also been identified by analysts as an important level for Bitcoin to clear.
Markets are additionally watching Fed Chair Kevin Warsh’s keynote speech at the Jackson Hole symposium on Friday, the Federal Reserve’s annual gathering in Wyoming that investors follow for signals on the policy outlook. Both the Deribit expiry and the address fall on the same day. Nationwide chief economist Kathy Bostjancic called the speech “extremely key” in light of recent moves in long-term interest rates and uncertainty around inflation.
Bitcoin spot ETFs also recorded a ninth straight day of inflows on Aug. 27, with $242 million entering the market that day alone.
