Bitcoin Breaks $80,000 Barrier After Fed Rate Hike

Bitcoin (BTC) jumped above $80,000 as US markets opened on Friday, recovering losses from earlier in the week's Federal Reserve rate increase.

The coin had slipped towards $75,000 after the hike, but regained ground to reach a new high of over $80,000. Shares of companies like Strategy, Coinbase, and Circle also rose between 5% and 8%, following the cryptocurrency's gains.

James Butterfill, head of research at CoinShares, said that a decisive break above $80,000 seems unlikely without an improvement in inflation expectations or a shift in policy. Alex Kuptsikevich, chief market analyst at FxPro, expects profit-taking to delay any further price gains.