Bitcoin tops $80,000 1st time since May after Treasury moves
bitcoin has bounced back, crossing $80,000 for the first time since May after dropping below $58,000 in late June.
This big jump is part of a wider crypto recovery and follows moves by the US Treasury to make financial conditions easier.
Strong interest from big investors has also helped push prices up.
US spot bitcoin ETFs pull $1.9B
Last week saw US spot bitcoin ETFs pull in about $1.9 billion, showing that traditional investors are seriously interested in crypto right now.
Meanwhile, the US Treasury is doubling its buybacks of long-term bonds and may tap into its nearly $1 trillion general account to help fund them.
All eyes are now on this week's Federal Reserve inflation report; softer numbers could mean less monetary tightening ahead, which could keep things interesting for both crypto and traditional markets.