For the first time since mid-May, Bitcoin trades above 80,000 dollars
Bitcoin rose as much as 2.5 per cent to 80,908 dollars on Aug 25 in Asian trading, a level last seen on May 15. The token remains well below the peak of about 126,000 dollars it reached in October. The move followed U.S. Treasury Secretary Scott Bessent's announcement that the government will step up repurchases of long-dated bonds to pull long-term yields down, which weakened the dollar.
Economics & Markets··Night
Reported development
For the first time since mid-May, Bitcoin trades above 80,000 dollars Bitcoin rose as much as 2.5 per cent to 80,908 dollars on Aug 25 in Asian trading, a level last seen on May 15. The token remains well below the peak of about 126,000 dollars it reached in October. The move followed U.S. Treasury Secretary Scott Bessent's announcement that the government will step up repurchases of long-dated bonds to pull long-term yields down, which weakened the dollar. The move followed U.S.[1]
Details in the report
Bitcoin rose as much as 2.5 per cent to 80,908 dollars on Aug 25 in Asian trading, a level last seen on May 15. The token remains well below the peak of about 126,000 dollars it reached in October. The move followed U.S. Treasury Secretary Scott Bessent's announcement that the government will step up repurchases of long-dated bonds to pull long-term yields down, which weakened the dollar. Analysts attributed the renewed bid to a revival of the debasement trade across Bitcoin and gold, while sceptics read the buyback plan as a sign the administration is not yet cutting the deficit.[1]
Additional context
For the first time since mid-May, Bitcoin trades above 80,000 dollars Bitcoin rose as much as 2.5 per cent to 80,908 dollars on Aug 25 in Asian trading, a level last seen on May 15. The token remains well below the peak of about 126,000 dollars it reached in October. The move followed U.S. Treasury Secretary Scott Bessent's announcement that the government will step up repurchases of long-dated bonds to pull long-term yields down, which weakened the dollar. Treasury Secretary Scott Bessent's announcement that the government will step up repurchases of long-dated bonds to pull long-term yields down, which weakened the dollar. Analysts attributed the renewed bid to a revival of the debasement trade across Bitcoin and gold, while sceptics read the buyback plan as a sign the administration is not yet cutting the deficit.[1]
