Bitcoin Blasts Past $80,000 on Dollar Weakness and US Regulatory Support

Bitcoin has surpassed $80,000 for the first time since May, driven by the weakness of the US dollar and improved regulatory prospects in the country.

The cryptocurrency reached highs of around $81,200 during the Asian trading session on Tuesday, before moderating its gains to stand at $79,812.50 as of 5:35 a.m.

The recovery comes after President Donald Trump expressed support for the CLARITY Act, a bill aimed at regulating digital currencies in the US.