Key Highlights
- BTC retreated below the $80,000 threshold following an overnight peak of $81,280, while spot Bitcoin ETFs recorded $2.8 billion in consecutive inflows over eight trading days
- Solana climbed more than 4% in 24 hours and posted a 20% weekly gain, outperforming other leading cryptocurrencies
- Nvidia delivered $96.2 billion in quarterly sales and projected revenues exceeding $105 billion for the coming quarter, propelling shares 9% higher
- The Nasdaq composite advanced 1.6%, the S&P 500 added 0.7%, and the Dow Jones increased 0.2% following Nvidia’s impressive earnings report
- Market participants are focused on Fed Chair Kevin Warsh’s inaugural Jackson Hole address, which may provide insight into monetary policy direction before September’s FOMC gathering
During Friday’s Asian trading session, Bitcoin hovered slightly beneath the $80,000 level after reaching an overnight high of $81,280. This price action occurred as U.S. spot Bitcoin ETFs recorded their eighth consecutive day of positive flows, accumulating $2.8 billion during this streak. With August inflows now surpassing $3 billion, the month has emerged as 2026’s most robust period for ETF investment activity.
Solana emerged as the top performer within major digital asset markets, advancing more than 4% in 24-hour trading to approach $101. The token has delivered a 20% return over the trailing seven-day period. Ether appreciated slightly above 1% to approximately $2,492, XRP increased nearly 2% to roughly $1.43, while BNB gained over 1% to trade near $714.
Dogecoin remained unchanged around the 9-cent level, whereas HYPE was the sole major token posting losses, declining under 1% to approximately $82.
Ethena Dominates Top 100 Performance
Among the top 100 cryptocurrencies by market capitalization, Ethena’s ENA token delivered the strongest performance, climbing 6% daily and 45% over the week. The rally emerged following a governance decision to allocate protocol revenues toward token buybacks and modify vesting schedules for venture investor allocations.
In broader markets, Brent crude declined to slightly below $90 per barrel, marking a weekly decrease exceeding 5%. The retreat followed diplomatic progress between Iran and Oman regarding Strait of Hormuz administration, alleviating concerns about potential energy-related inflation pressures.
The 10-year Treasury yield maintained its position at 4.67%, representing a seven-basis-point weekly decline. The dollar index remained just above 99, while gold retreated to $4,587 per ounce.
Nvidia Drives Technology Sector Rally
Nvidia announced quarterly revenues of $96.2 billion and provided third-quarter guidance exceeding $105 billion. These results sparked a 9% equity surge, contributing $442 billion to the company’s market capitalization within a single trading session.
The Nasdaq advanced 1.6% during Thursday’s session, the S&P 500 increased 0.7%, and the Dow Jones gained 0.2%. Technology emerged as the sole S&P 500 sector posting significant gains.
According to reporting from the Wall Street Journal, Nvidia has temporarily suspended certain transactions within a financing program that provided credit backing to AI cloud infrastructure companies in return for revenue-sharing arrangements.
Strong earnings from Salesforce provided additional momentum to software equities, contributing to the technology sector’s broad-based advance.
Attention has now shifted to Fed Chair Kevin Warsh’s maiden Jackson Hole policy address, scheduled for Friday afternoon. With Warsh offering limited public commentary on his monetary policy stance, investors are closely monitoring for directional signals ahead of the September 16 FOMC decision.
Current futures markets indicate a 35% probability of a rate increase at September’s meeting, with a move fully priced in by December.
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