Bitcoin Hits Three-Month High Above $80,000 Amid Bullish Macro Signals
· Business · LiveMint, CNBC, The Straits Times
Bitcoin reached $80,908 on Tuesday, marking its highest level since mid-May as market sentiment improved. The cryptocurrency rallied 23% over the previous seven days, the largest weekly gain in three years. This surge follows US Treasury Secretary Scott Bessent’s announcement of expanded bond repurchases, which weakened the dollar and renewed interest in the debasement trade. Additionally, US-listed spot Bitcoin exchange-traded funds recorded their strongest weekly inflow in 10 months, attracting $1.92 billion. The market also responded to a meeting between President Donald Trump and industry leaders, which bolstered optimism regarding the administration's stance on crypto legislation.
Why it matters
The price surge reflects shifting macro-economic expectations and increased institutional capital flow into crypto assets, impacting global digital asset markets.
Read the original report — LiveMint
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