Bitcoin climbed above the $80,000 level on Tuesday, reaching its highest point in more than three months as weakness in the US dollar and measures by the US Treasury to ease pressure in the bond market renewed appetite for cryptocurrencies.
According to Reuters, Bitcoin was trading at $80,323.24 during Asian trading hours after reaching an intraday high of $81,237.94, its strongest level since mid-May.
What the data is saying
Bitcoin’s latest rally has accelerated significantly in August.
- Bitcoin price: $80,323.24 at the referenced time
- Session high: $81,237.94
- Gain since Trump’s regulatory push: about 16%
- August gain: about 28%
- Potential strongest monthly performance: since November 2024
The cryptocurrency has now recovered strongly after a period of weaker price action, with the latest move putting it on track for its strongest monthly performance in almost two years.
What they are saying
The rally has been supported by a combination of US dollar weakness, easing pressure in the bond market and improving regulatory expectations for the cryptocurrency industry.
Bitcoin gained roughly 16% after US President Donald Trump urged Congress last week to pass legislation establishing clearer regulatory definitions for the crypto sector.
The move has strengthened investor sentiment toward digital assets, while expectations around US financial conditions have provided another source of support.
If the momentum holds, Bitcoin could record its strongest monthly performance since November 2024, highlighting the renewed appetite for risk assets among investors.
