Bitcoin breaches $80K for the first time since March, driven by a weaker USD and negative bond market sentiment.
Bitcoin climbed above $80K for the first time in three months, extending gains amid a weaker USD and poor sentiment toward bonds. The move reflects broader market shifts favoring risk assets over traditional safe havens.
Earlier this year, BTC traded below $50K before recovering on macroeconomic tailwinds. Analysts had flagged $80K as a key resistance level, with some institutions revising near-term targets higher, including Citi’s $4,800 gold forecast and JPMorgan’s $5K call.
Asian equities opened lower, while the PBOC set the USD/CNY reference rate at 6.7852, above estimates. The AUD softened as China intervened to curb yuan appreciation.