Bitcoin (BTC) surged on Thursday, climbing beyond $80,000 and pushing toward $81,000, as technology futures rallied following an impressive second-quarter fiscal year 2027 earnings report from Nvidia. The chipmaker’s strong performance, announced after market close on Wednesday, August 26, 2026, injected optimism into broader risk assets, directly benefiting the cryptocurrency market.
Nvidia, led by founder and CEO Jensen Huang, reported revenue of $96.2 billion for the quarter ending July 26, 2026, a significant 106% increase year-over-year. This figure comfortably surpassed analyst estimates, sending its stock soaring and reverberating across markets.
Bitcoin rallies following Nvidia earnings
The immediate impact was palpable for Bitcoin, which gained 2.4% on Thursday. Its price rebounded from an intraday low near $77,658 to hit approximately $80,380, with TradingView data showing new local highs of $80,808.
This upward movement coincided directly with stronger U.S. technology futures, where the Nasdaq 100 advanced about 1.1%, and gains across global semiconductor stocks. Bitcoin often trades alongside growth equities during broad risk-on sessions, a dynamic underscored by its 0.87 correlation coefficient with Nasdaq 100 futures over the past fortnight.
The correlation highlights Bitcoin’s evolving role within the global financial landscape. Once considered a niche, uncorrelated asset, its price action increasingly mirrors that of traditional tech-heavy indices, particularly during periods of significant earnings reports from bellwether companies. This behavior suggests that institutional flows and sentiment in the wider crypto market are increasingly intertwined.
The positive sentiment also spread to cryptocurrency mining stocks. IREN jumped 5%, while TeraWulf and Cipher Mining each added approximately 3% on Thursday, reflecting the broader market uplift.
Nvidia’s strong quarter underpins market optimism
Nvidia’s financial results far exceeded expectations. The company’s $96.2 billion revenue for Q2 FY27 beat Visible Alpha’s consensus estimate of $92.2 billion, along with narrower analyst estimates. Non-GAAP diluted earnings per share (EPS) hit $2.22, outpacing expectations near $2.09.
The powerhouse behind this growth was Nvidia’s Data Center segment, which recorded an astounding $89.0 billion in revenue. This represents an 18% increase quarter-over-quarter and a 117% jump from a year ago, accounting for 92.7% of total sales. CFO Colette Kress noted that hyperscale revenue alone rose 101.5% year-over-year.
Jensen Huang underscored the significance of these figures, stating, “AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue.”
This sentiment resonated with investors, driving Nvidia’s shares up 6.7% in premarket trading and extending gains to over 8% after the report, adding over $400 billion to its market capitalization. Trading resource The Kobeissi Letter called it potentially the “3rd largest single-day market cap gain by a stock in history.”
Nvidia’s robust performance provided a concrete example of strong earnings season results, fueling a more general appetite for risk. This dynamic has frequently seen Bitcoin gain momentum, particularly when traditional financial indicators signal growth.
Upcoming options expiry and resistance levels
As Bitcoin pushes higher, market participants are watching key technical levels and upcoming events. Analyst David Eng pointed to a “weakening” liquidity wall ahead of Friday’s substantial $6.58 billion (81,700 BTC) August options expiry event on crypto exchange Deribit.
Eng suggested that a decisive break above the $82,000 resistance level would pave a much clearer path toward $85,000 and beyond for Bitcoin. Such a move would liquidate short positions and create upward pressure. Furthermore, expectations are high ahead of Fed Chair Kevin Warsh’s keynote speech at the Jackson Hole Economic Symposium on Friday, which could also influence market sentiment.
The confluence of strong tech earnings, Bitcoin’s correlation with traditional risk assets, and the dynamics of the options market suggests a pivotal period for the digital currency. While current momentum is strong, the $81,000 and $82,000 thresholds remain crucial tests for sustained upward movement, potentially paving the way for further price retests.