Bitcoin tops US$80,000 for first time since May as US moves boost crypto
Bitcoin has broken above US$80,000 for the first time in three months, riding a broader rally in alternative assets triggered by Washington’s efforts to tame US bond yields. The world’s largest cryptocurrency traded above US$80,900 on Tuesday, jumping roughly 25 per cent over the past week and signalling an early recovery from a prolonged market slump. While bitcoin remains nearly 36 per cent below its record high of US$126,000 set in October, the sharp rebound has prompted observers to predict...
Washington’s buy-back efforts for US debt, cryptocurrency policy support credited for 25 per cent rally
Bitcoin has broken above US$80,000 for the first time in three months, riding a broader rally in alternative assets triggered by Washington’s efforts to tame US bond yields.
The world’s largest cryptocurrency traded above US$80,900 on Tuesday, jumping roughly 25 per cent over the past week and signalling an early recovery from a prolonged market slump.
Bitcoin’s price hike this week shows characteristics of an early bull market, according to Allen Ding, director of Hong Kong-based Bitfire Research, a unit of Bitfire Group, a Hong Kong-listed crypto asset management firm previously linked to the Chinese crypto exchange Huobi, now known as HTX.
Gold also traded at a three-month high of US$4,698 an ounce on Tuesday, extending a 5.1 per cent gain last week.
