Bitcoin Surges Past 80,000 Dollars on ETF Inflows and Treasury Moves
· Business · CNBC, Yahoo Finance, Bloomberg
Bitcoin surged past the $80,000 threshold on Tuesday, extending a rally that began after a 20 percent spike last week. The flagship cryptocurrency traded up 1.46 percent at $79,949.47 in early trading following $1.92 billion in net weekly inflows into U.S. spot bitcoin exchange-traded funds. Market momentum was also supported by the U.S. Treasury's announcement to double purchases of longer-dated government bonds, which lowered yields and revived demand for risk assets. Ether rose 0.79 percent to $2,489.01, while XRP gained 1.1 percent to $1.49. Analysts remain divided on whether the breakout will hold, noting past historical parallels with 2023 market movements.
Why it matters
The cryptocurrency rally affects global retail and institutional investors, signaling renewed capital inflows into digital assets amid shifting macroeconomic policy.
Read the original report — CNBC
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