Bitcoin Surpasses $80,000, Reaching Highest Level in Three Months

Bitcoin’s price rose above the $80,000 level on Tuesday to its highest point in more than three months, supported by a weaker US dollar following measures taken by US Treasury Secretary Scott Bessent to calm the bond market, which reinvigorated the cryptocurrency sector.

Last week, US President Donald Trump urged Congress to pass legislation that would provide clearer definitions for the growing cryptocurrency sector.

Since then, Bitcoin, the world’s largest cryptocurrency, has surged 16%.

In the latest Asian trading, Bitcoin recorded $80,323.24, after earlier touching $81,237.94, its highest level since mid-May.

The currency has jumped approximately 28% since the beginning of August, on track to post its largest monthly gain since November 2024, according to Reuters.