Bitcoin Crosses $80,000 For The First Time Since May Amid Crypto Bounce Back
Bitcoin climbed above $80,000 for the first time since mid-May as Treasury buybacks and dollar selling lifted major cryptocurrencies.
- Bitcoin surpassed $80,000 on Monday for the first time since mid-May, marking a significant recovery from the world's most valuable cryptocurrency, though it remains well below last year's $126,000 all-time peak.
- Treasury Secretary Scott Bessent announced last week plans to double the Treasury's buyback of long-dated bonds, aiming to curb rising yields amid concerns over the war in Iran and the $40 billion national debt.
- Investors are pursuing the so-called "debasement trade," shifting capital toward scarcer assets like gold and Bitcoin. Hedge fund billionaire Ray Dalio warned Friday of a debt crisis, advising investors be "underweighting debt assets like bonds, and overweighting gold and a bit of Bitcoin."
- Major tokens surged alongside Bitcoin, with Ether rising more than 30% from the previous week, while Solana's SOL, Binance's BNB, XRP, and the memecoin DOGE climbed 32%, 18.7%, 51.7%, and 31.8% respectively in seven days.
- Trump called on Congress to pass the long-stalled CLARITY Act, which will establish legal guidelines for digital assets. The president stated the legislation is "very, very powerful structured legislation which will keep us ahead of China.
24 Articles
24 Articles
The evolution of the last days is due to the financial policy decisions of the United States and the behavior of the debt markets
Observador
The most negotiated cryptcurrency is worth $81,257.98 (€69,686.84), with a 3% increase in this session. This value was not reached since May 15.
On Tuesday, Bitcoin went above the $80,000 mark again for the first time since mid-May, reaching a three-month high. The latest price increase is now taking place for these reasons.
Bitcoin's growth was driven by US fiscal policy, a weaker dollar, and the return of traditional investors.
Bitcoin, the most negotiated cryptocurrency on the market, today rose almost 3% and exceeded 81,000 dollars, a value that had not exceeded since May 15. According to data compiled by the financial news agency Bloomberg, at 3:42 in Lisbon, the cryptocurrency traded at 81,257.98 dollars (69,686.84 euros), representing an increase of 2.95% compared to Monday. Bitcoin valued itself almost 26% since August 19, when the United States Treasury Departme…
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