Bitcoin climbs above $80,000 as crypto rally gains momentum
Bitcoin pushed past $80,000 on Monday, marking its first breach of that level since mid-May and continuing a week-long surge in major digital assets.
Bitcoin surged past the $80,000 threshold on Monday night, reaching $80,453 by early Tuesday, a rise of over 25% in the past week and the first time it has exceeded that mark since mid-May. Ether followed suit, climbing above $2,500, while other major tokens such as Solana, Binance Coin, XRP and Dogecoin recorded weekly gains ranging from roughly 19% to 52%. The price rally coincided with Treasury Secretary Scott Bessent’s announcement to double the Treasury’s long-dated bond repurchase program, a policy shift that prompted a fresh round of dollar selling and buoyed both crypto and gold.
Ray Dalio, in a recent blog post, cautioned about an impending debt crisis and recommended overweighting gold and Bitcoin. Adding political momentum, President Donald Trump hosted several cryptocurrency leaders at the White House and called on Congress to advance the industry-backed CLARITY Act.
Why it matters
The price jump highlights growing investor interest in crypto as a hedge amid concerns over bond yields and fiscal policy.
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