Bitcoin crosses $80,000 to reach highest level in three months
Bitcoin has crossed the $80,000 mark for the first time since mid-May on renewed optimism about the crypto market. The world's biggest cryptocurrency rose about 4 per cent to reach $80,246 on Tuesday morning, according to data from CoinMarketCap. Bitcoin rallied throughout last week, although it remains well below its peak of about $126,000 hit in October. It received a boost after the US…
Bitcoin has surged to a new high above $80,000, marking its highest level in three months, according to recent market data. The leading cryptocurrency experienced a 4% increase, reaching $80,246. Despite this impressive gain, Bitcoin is still far from its peak of $126,000, achieved in October. The uptick can be attributed to renewed optimism in the crypto market, as well as the US Treasury's decision to double its repurchases of long-dated securities to at least $4 billion per round in the upcoming quarter.
This move may further stimulate the Treasury buybacks in the future. The latest rally is also driven by a lower regulatory risk premium, as well as President Trump's renewed efforts to push for clearer digital-asset legislation. This push has bolstered expectations that institutional participation in the crypto market could become more accessible.
During a recent White House meeting with crypto industry executives, Trump called on Congress to pass a "fair version of the Clarity Act." In 2026, regulatory clarity is poised to become a significant market catalyst, and President Trump's and crypto leaders' initiatives are expected to uplift market sentiment. The focus on establishing a clearer policy framework for digital assets is likely to serve as a model for other emerging markets to regulate their fast-growing crypto industries.
In the coming weeks, the market will observe the impact of political will becoming legal progress. If the Clarity Act progresses, it could bolster investor confidence and incite a broader recovery in digital assets. However, any ambiguity or political impasse will keep market volatility elevated. Aslam, chief investment officer of Zaye Capital Markets, noted that regulatory progress, institutional custody expansion, and improving liquidity conditions would further strengthen the case for continued upside, especially if Treasury yields stay contained.
On the other hand, stronger US growth might push real yields higher again, diminishing the liquidity support that has fueled the rally.
Written by urgent.news from The National UAE's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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