Bitcoin climbed above $80,000 on Tuesday, reaching its highest level in more than three months, as a softer dollar and moves by the US Treasury to calm bond markets sent investors back into risk assets.
The token touched $81,237.94 in Asian trading before settling at $80,323.24. The rally extends a run that has seen Bitcoin gain roughly 28% since the start of August, putting it on course for its best monthly performance since November 2024.
Two catalysts drove the move. The US Treasury last week announced plans to buy back more long-dated bonds, a step intended to cap yields on longer-duration debt. The dollar absorbed much of the resulting investor unease. Then President Donald Trump called on Congress to pass legislation that would establish clearer regulatory definitions for the crypto sector. Bitcoin has risen 16% since that call.
Tony Sycamore, an analyst at IG, said the Treasury announcement had pushed buyers strongly toward physical and digital assets as currency debasement concerns resurfaced. “Any sustained move above this level will open the door for a move toward $95,000 and $100,000,” he said.
