Bitcoin climbs above $80,000 again
The cryptocurrency rose to $80,501 as ETF inflows and a Treasury move on bond purchases supported risk appetite.
Bitcoin climbed back above $80,000 on Tuesday, continuing its recent rally as renewed inflows into spot bitcoin ETFs and an improved risk appetite supported the market. The cryptocurrency rose more than 2% to $80,501.
The latest advance extends a sharp upswing that began last week, when bitcoin jumped more than 20% over three days — its strongest three-day gain since 2023. Part of that surge was driven by a squeeze on short positions, with more than $4 billion of bearish crypto bets liquidated as prices rose.
Macro moves and institutional flows
Investors also reacted to an announcement from the U.S. Department of the Treasury that it will double purchases of long-term government bonds. That step briefly pushed yields lower and revived demand for risk assets, while rising concerns about inflation and sovereign debt have also increased interest in assets perceived as scarce.
Institutional demand returned as well: U.S. spot bitcoin ETFs recorded a net inflow of $1.92 billion last week, their largest weekly intake since October, when bitcoin reached its previous cycle peak.
Market participants say the mix of technical buying, ETF flows and macro developments has added momentum to prices, but analysts warn that bitcoin remains volatile and sensitive to shifts in liquidity and risk sentiment.
Photo: EPA-EFE/SASCHA STEINBACH
