August 28, 2026, (Inside AI) — Bitcoin pushed toward $81,000 on Thursday, lifted by a risk-on wave after Nvidia posted quarterly results that beat forecasts by nearly $4 billion. The cryptocurrency reached a local high near $80,808, with traders attempting to turn $80,000 into a new floor.
The rally came as Nvidia reported second-quarter revenue of $96.2 billion, sending its shares up more than 9% during Thursday trading. The chipmaker added over $400 billion in market capitalization, while the Nasdaq Composite gained about 1% at the time of reporting. The earnings beat rippled through digital asset markets, reinforcing Bitcoin's correlation with tech-heavy equities.
Despite the bounce, Bitcoin faces stiff resistance. Analysts point to $82,000 as the critical level that must be reclaimed for a stronger upward move. Analyst David Eng said sell-side liquidity around Bitcoin was weakening ahead of Friday's major options expiry.
"A break above $82,000 could open the way toward $85,000 or higher, as resistance becomes less concentrated," David Eng, analyst
Market activity surged alongside the price recovery. Crypto liquidations hit approximately $417 million over a 24-hour period, reflecting the volatility that has accompanied Bitcoin's recent swings. Traders are now bracing for the expiration of roughly $6.58 billion worth of Bitcoin options, equivalent to about 81,700 BTC, on Friday.
Options expiry events often inject short-term turbulence as market participants adjust positions or settle contracts. The scale of Friday's expiry could amplify price swings, particularly with Bitcoin hovering near the psychologically important $80,000 mark.
Jackson Hole Speech Looms Over Rate-Sensitive Assets
Investors are also positioning ahead of Federal Reserve Chair Kevin Warsh's keynote speech at the Jackson Hole economic symposium on Friday. The address is being closely watched amid uncertainty over US inflation, interest rates, and government bond yields.
A clearer signal on Federal Reserve policy could move both traditional markets and cryptocurrencies. Bitcoin has shown heightened sensitivity to macro conditions this year, with rate expectations influencing demand for non-yielding assets. The speech could set the tone for the next leg of Bitcoin's price action.
For now, the market's immediate focus remains on whether $80,000 holds as support. A sustained push above $82,000 would strengthen the bullish case toward $85,000, according to technical analysts. Failure to hold current levels could invite another test of lower support zones.
The options expiry and Jackson Hole speech arrive at a pivotal moment for Bitcoin. After months of range-bound trading, the confluence of a major derivatives event and a key policy signal could determine whether the recovery has legs or fades into another consolidation phase.
