Bitcoin crossed $80,000 after an eight-day rally, supported by ETF inflows, Treasury buyback changes and short liquidations.
Tether abandoned a roughly $120 million Bitcoin mining investment in Uruguay after a dispute with the state power company escalated into unpaid bills, an electricity cutoff and layoffs, according to a Reuters investigation. This article first appeared in The Energy Mag. The original article can be viewed here.
BTC is up more than 25% on the week after Treasury's bond-buyback expansion sparked a rally, while Solana led majors Tuesday as validators vote on proposals to slow new SOL creation and raise daily burns.
Bitcoin pushed through the $80,000 price point on Monday, marking its first visit to this level since mid-May and continuing a powerful uptrend that has accelerated throughout the past week.
It took a few attempts, but BTC finally did it earlier this morning.
Bitcoin climbs back above $80K as spot ETF demand strengthens and Treasury buyback expectations improve liquidity. See the drivers, risks, and outlook.
Arthur Hayes says expanded Treasury buybacks and possible TGA spending could support dollar liquidity and extend Bitcoin's rally.
The rally followed the US Treasury's expansion of long-end debt buybacks and Trump's renewed push for crypto market structure legislation.
Bitcoin closed in on the $80,000 mark, as renewed inflows into spot bitcoin ETFs and improving risk appetite extended the cryptocurrency's recent rally.
Bitcoin (CRYPTO: BTC) crossed the $80,000 threshold for the first time in more than three months, driven by optimism around cryptocurrency legislation and market reaction to Treasury buyback plans. Start of a Bull Cycle?
Bitcoin's surge highlights the impact of liquidity dynamics and ETF inflows, potentially setting the stage for future volatility and growth. Bitcoin surpasses $80,000 for the first time since May as ETF inflows and short liquidations fuel the rally.
Bitcoin is threatening to break through US$80,000 after recording its largest weekly dollar gain on record, as renewed institutional buying and a shift in US Treasury policy injected fresh momentum into crypto markets. Bitcoin was trading around US$78,700 early Tuesday, having briefly touched US$80,000 during the latest session.