Key Highlights
- Bitcoin retreated below $80,000 following an overnight peak at $81,280, as U.S. spot Bitcoin ETFs recorded eight consecutive days of positive flows totaling $2.8 billion
- Solana outperformed with daily gains exceeding 4% and weekly returns hitting 20%, topping the charts among leading cryptocurrencies
- Nvidia delivered quarterly revenue of $96.2 billion with forward guidance surpassing $105 billion for next quarter, triggering a 9% stock rally
- The Nasdaq climbed 1.6%, while the S&P 500 advanced 0.7% and the Dow Jones gained 0.2%, propelled by Nvidia’s stellar performance
- Market participants are zeroing in on Fed Chair Kevin Warsh’s inaugural Jackson Hole address, anticipated to provide clues on monetary policy trajectory before the September FOMC decision
Bitcoin hovered just beneath the $80,000 threshold during Friday’s Asian trading session following an overnight spike to $81,280. The cryptocurrency’s movement coincided with an impressive eight-day streak of capital inflows into U.S. spot Bitcoin exchange-traded funds, accumulating $2.8 billion. With over $3 billion in ETF inflows recorded throughout August, the month has emerged as 2026’s most robust period for institutional investment.
Solana emerged as the top performer across major digital assets, climbing more than 4% during the trading day to approach $101. The token has delivered impressive seven-day returns of 20%. Ethereum advanced slightly over 1% to reach approximately $2,492, while XRP appreciated nearly 2% to trade around $1.43, and BNB increased over 1% to settle near $714.
Dogecoin remained relatively unchanged around 9 cents, with HYPE standing as the sole major cryptocurrency posting losses, declining under 1% to approximately $82.
Ethena Dominates Top 100 Gainers
Ethena’s ENA token claimed the top spot among the 100 largest cryptocurrencies by market capitalization, climbing 6% intraday and an impressive 45% over the week. The surge materialized after governance participants approved proposals directing protocol revenues toward token buybacks and restructuring venture capital unlock schedules.
In broader markets, Brent crude declined to just below $90 per barrel, representing a weekly decrease exceeding 5%. The retreat followed diplomatic progress between Iran and Oman on coordinating Strait of Hormuz operations, effectively neutralizing concerns about energy-related inflationary pressures.
The benchmark 10-year Treasury yield maintained its position at 4.67%, marking a seven-basis-point weekly decline. The dollar index remained slightly above 99, while gold retreated to $4,587 per ounce.
Nvidia Drives Technology Sector Rally
Nvidia unveiled quarterly revenue reaching $96.2 billion alongside third-quarter projections exceeding $105 billion. The impressive financial disclosure sparked a 9% single-session stock surge, creating $442 billion in additional market capitalization.
The technology-heavy Nasdaq advanced 1.6% for the session, with the S&P 500 posting a 0.7% gain and the Dow Jones adding 0.2%. Technology emerged as the sole S&P 500 sector registering significant gains.
According to reporting by The Wall Street Journal, Nvidia has temporarily suspended certain transactions within a financing program that provided credit arrangements to artificial intelligence cloud service providers in return for revenue-sharing agreements.
Strong quarterly results from Salesforce also contributed to broader software sector momentum, amplifying the technology sector’s overall performance.
Attention has now shifted to Fed Chair Kevin Warsh’s debut Jackson Hole keynote address, set for later Friday. With Warsh having offered limited insights into his interest rate perspective, market participants are seeking directional signals ahead of the September 16 FOMC policy meeting.
Current futures markets indicate a 35% probability of a rate hike in September, with a policy adjustment fully priced in by December.
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