Bitcoin Breaks $80,000 Barrier with Strongest Weekly Rally in Three Years

Bitcoin broke through the $80,000 mark for the first time since mid-May, marking its strongest weekly performance in roughly three years. The token surged as much as 2.5% to $80,908 during Tuesday trading in Asia before easing slightly from that intraday high.

The rally has been fueled by a mix of bullish catalysts, including a Treasury bond-buyback move, a weaker dollar, renewed political attention on crypto regulation through the CLARITY Act, and a wave of short-position liquidations. These factors have combined to force the liquidation of billions of dollars in leveraged bets.

Despite this surge, Bitcoin remains well below its October peak of approximately $126,000. The market's reaction to this rebound will be closely watched by traders and analysts to determine whether it holds or proves to be another false start.