Skip to content
Sign In Subscribe
Crypto — Investing

Bitcoin Nears $80,000 As Crypto Rally Gains Momentum

The rally follows a more than 20% three-day surge, the strongest such advance since 2023

,   and  TIPP Staff
2 min read
Photo by Kanchanara / Unsplash

Bitcoin and major cryptocurrency stocks extended their gains Monday after the digital asset broke above a prolonged trading range. Bitcoin rose about 2% to just below $80,000, while Ether gained roughly 2% to around $2,500.

The rally follows a more than 20% three-day surge, the strongest such advance since 2023. According to the report, lower bond yields after the Treasury increased purchases of longer-term government debt helped revive demand for risk assets.

💡
Institutional investors also returned. Spot bitcoin ETFs attracted $1.92 billion last week, their strongest weekly inflow since October. More than $4 billion in bearish crypto positions were liquidated during the rally.

Crypto-focused stocks also advanced, with Strategy, Strive, Bitmine and Sharplink posting gains.

BTIG analyst Jonathan Krinsky noted that bitcoin experienced a similar breakout in 2023 before retreating. Meanwhile, Bridgewater founder Ray Dalio warned about potential debt risks and recommended investors maintain some bitcoin exposure.

Related Tweet:

Also Read:

Trump Raises Threat Of 50% Tariffs On Canadian Autos
He accused Canada of taking advantage of the United States and said its tariff policies have harmed American farmers.
tippinsightsTIPP Staff

Comments

Related

Latest

Labor Secretary Confirmed as Senate’s Last Act Before 6-Week Recess
Politics

Labor Secretary Confirmed as Senate’s Last Act Before 6-Week Recess

Sonderling, former deputy secretary and a key policy officer in the department, has served as acting secretary since Lori Chavez-DeRemer resigned earlier this year following an internal investigation alleging inappropriate conduct. Sonderling was not associated with the investigation or allegations.

,   and  TIPP Staff
Members Public