Bitcoin traded just below the $80,000 level on Friday during Asian trading, following an overnight peak of $81,280. The pullback came amid sustained institutional investment, with U.S. spot Bitcoin exchange-traded funds recording their eighth consecutive day of positive inflows, accumulating $2.8 billion. August has been the strongest month for Bitcoin ETFs this year, with total inflows surpassing $3 billion.
Solana emerged as the top performer among major cryptocurrencies, posting a daily gain exceeding 4% to trade just below $101, while recording a 20% weekly advance. Ether gained slightly more than 1% to approximately $2,492, XRP climbed nearly 2% to around $1.43, and BNB advanced over 1% to approach $714. Dogecoin remained stable near 9 cents.
Within the top 100 cryptocurrencies by market capitalization, Ethena's ENA token led gainers with a 6% daily increase and 45% weekly surge, following a governance decision to redirect protocol revenue toward token buybacks and adjust venture token unlock schedules.
In technology stocks, Nvidia reported quarterly revenue of $96.2 billion and projected next quarter revenue above $105 billion. The earnings beat drove shares up 9%, adding approximately $442 billion to the company's market capitalization in a single trading day. The Nasdaq Composite climbed 1.6%, the S&P 500 advanced 0.7%, and the Dow Jones Industrial Average edged up 0.2%, with the technology sector as the only major S&P 500 segment posting positive performance.
Brent crude oil declined to just below $90 per barrel, representing a weekly decrease exceeding 5%, following diplomatic progress between Iran and Oman regarding the Strait of Hormuz. The 10-year Treasury yield remained steady at 4.67%, the U.S. dollar index traded marginally above 99, and gold retreated to $4,587 per ounce.
Market participants are monitoring Fed Chair Kevin Warsh's Jackson Hole Economic Symposium address scheduled for later Friday, as traders seek signals on monetary policy ahead of the September 16 FOMC meeting. Futures pricing indicates a 35% probability of an interest rate increase in September, with markets fully pricing in a policy adjustment by December.
