Bitcoin Crosses $80,000 For The First Time Since May Amid Crypto Bounce Back

Topline

Bitcoin rose past $80,000 late Monday, igniting a broader rally in major cryptocurrencies that began last week after the Treasury’s bond‑market intervention.

Key Facts

Bitcoin advanced to $80,453 early Tuesday, marking a gain of over 25% in the past week.

This is the first time Bitcoin has breached $80,000 since mid‑May, though it remains far below last year’s all‑time high of $126,000.

Ethereum rose to $2,503 early Tuesday, reflecting a rise of more than 30% over the prior week.

The rally also lifted other prominent tokens: Solana (SOL) gained 32%, Binance Coin (BNB) 18.7%, XRP 51.7%, and Dogecoin (DOGE) 31.8% over the past seven days.

What Do We Know About The Debasement Trade?

Last week, Treasury Secretary Scott Bessent announced a plan to double the Treasury’s purchases of long‑dated bonds to curb rising yields. This followed a surge in the 30‑year Treasury yield to its highest level since 2007, driven by concerns over the Iran conflict and a national debt exceeding $40 billion. The policy shift sparked renewed dollar selling and lifted crypto and gold prices. In a Friday blog post, hedge‑fund founder Ray Dalio warned of an impending debt crisis and urged investors to reduce exposure to debt instruments, favoring gold and a modest allocation to Bitcoin.

Key Background

Last week President Donald Trump met with several cryptocurrency executives at the White House, further energizing the market. He urged Congress to pass the long‑awaited CLARITY Act, a legislative framework that would provide clear rules for digital assets. “We need Congress to take the next step by passing the CLARITY Act, a robust and structured law that will keep the United States ahead of China and all other nations,” he said.

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