Bitcoin crossed $80,000 for the first time since mid-May on Tuesday, extending its recent rally as a weaker US dollar and expectations of a more supportive policy environment boosted demand for cryptocurrencies.

Bitcoin is up about 23% this week, on track for its best weekly gain since March 2023, as US Treasury bond buybacks lower yields and boost appetite for risk assets.

Bitcoin's price surged further on Monday, flirting with $80,000 after U.S. exchange-traded funds had their best week since October.

Bitcoin climbed above $80,000 for the first time since mid-May, extending a 23% weekly rally, its biggest in about three years. The surge reflects renewed optimism around crypto…

Bitcoin reaches $81,257, marking a three-month high as optimism returns amid renewed interest in the debasement trade.

Improving liquidity expectations and a lower regulatory risk premium are supporting the cryptocurrency