Bitcoin rallied to its highest level since mid-May as a softer U.S. dollar and inflation concerns drove investor demand.
Bitcoin climbed above $80,800 on Tuesday, marking its highest price in three months. The 2.5% gain in Asian trading extended a 23% rally as investors sought hedges against currency debasement amid a weaker U.S. dollar.
The cryptocurrency last traded at these levels in mid-May, following a period of volatility tied to macroeconomic uncertainty. Analysts cited renewed appetite for digital assets as traditional fiat currencies faced pressure.
No immediate market reaction data was provided, but the move reflects broader risk-on sentiment in crypto markets.