Bitcoin Crosses $80,000 For The First Time Since May Amid Crypto Bounce Back
The rally was fueled by Treasury bond buybacks and a weaker dollar, while U.S.-listed spot bitcoin funds drew $1.92 billion in weekly inflows, Bloomberg said.
- Bitcoin surpassed $80,000 on Tuesday for the first time since mid-May, extending a roughly 28% gain throughout August as market optimism returned to the long-beaten cryptocurrency.
- Treasury Secretary Scott Bessent announced plans to double long-dated bond buybacks to at least $4 billion per operation starting September 9, reviving the "debasement trade" narrative that prompted investors to seek alternative assets like Bitcoin.
- U.S.-Listed spot Bitcoin exchange-traded funds recorded approximately $1.9 billion in net inflows last week, while about $7.2 billion in leveraged bearish bets were liquidated across all cryptoassets, accelerating the rally.
- President Donald Trump urged Congress to pass the CLARITY Act, describing it as "very, very powerful" legislation necessary to keep the U.S. ahead of China in digital assets.
- Analyst Rekt Capital warned that while Bitcoin achieved a technically bullish weekly close above its 50-week exponential moving average, the market must sustain higher levels to challenge the bear-market thesis.
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The bitcoin has been showing a renewed upward mood, after spending several months hovering around $60,000. During the day, the main cryptocurrency, thus notes one of its best weeks “in quite a while”, according to XTB’s head of research, Ignacio Mieres, after this day it even reached over $80 ... Continue reading “Bitcoin to the moon? Cryptocurrency is preparing to close its second best August of the story” The post Bitcoin to the moon? Cryptocu…
Bitcoin Reaches Three-Month High of $80,000 as Momentum Returns
Bitcoin briefly climbed above $80,000 for the first time since mid-May, as optimism returns to the beaten-down crypto market amid a confluence of bullish signals that forced the liquidation of billions in leveraged bets.
The bitcoin operates close to stability this Tuesday (25), after exceeding the US$80,000 and reaching the highest level in about three months. The cryptocurrency returned part of the gains with the fall of the dollar this morning, but continues to be sustained by the recovery started last week, after the US Treasury expanded the buybacks of long-term public bonds. At around 10:30 a.m., the bitcoin rose 0.9% in 24 hours, to US$78,651.29, accordin…
Cryptocurrency accumulates a 28% increase in August; Tuesday reached a peak of $80,000 and then dropped to $78.000
The cryptocurrency of greater market capitalization again exceeded the level of $80,000 this Tuesday, a level that had not reached since May.The advance took place in an environment of weakness of the dollar and better legislative expectations in the US, while investors barely reacted to Washington’s new commercial threats against the Iranian regime’s partners. Economy The bitcoin is triggered by a bill on cryptocurrency AFP The bitcoin jump In …
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