Bitcoin Blasts Through $80,000 as Dollar Weakness Fuels Cryptocurrency Surge

Bitcoin surged above $80,000 on Tuesday to hit its highest level in over three months as investors sought safer assets amidst concerns about a weakening US dollar.

The price of Bitcoin rose 16% since last week's call by President Donald Trump for clearer definitions in the cryptocurrency sector, with some experts attributing the boost to Treasury Secretary Scott Bessent's moves to calm the bond market.

Tim Sun, senior researcher at HashKey Group, said Bessent's messaging reinforced the view that US policymakers may have a lower tolerance for rising long-end yields, creating a supportive macro backdrop for assets like Bitcoin and gold.