Bitcoin hit $81,272 in late August as spot ETFs pulled in $1.92B weekly and a Treasury bond buyback plan weakened the dollar. Here's what drove

Bitcoin and other crypto tokens have been boosted by the so-called “debasement trade” as the treasury has moved to intervene in the bond markets to curb rising yields.

BTC has now surged 38% following its June plunge as shifting U.S. Treasury policy helped bring buyers back to crypto, rejuvenating ETF demand.

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…