Bitcoin Reclaims $80,000 as Bulls Gain Momentum

Bitcoin has broken through the $80,000 barrier for the first time in over three months, marking a significant milestone in its price recovery. The move follows last week's snap rally and is seen as a sign of growing bullish momentum.

Data from TradingView showed that BTC/USD passed $80,000 on Monday, with the price subsequently pulling back following the European close. This marks the first time Bitcoin has reached this level since May 15.

Analysts are warning that while this is a positive development, it's still unclear whether the market can sustain higher levels to challenge bear-market norms. Rekt Capital noted that if this is indeed a relief rally, Bitcoin could pull back as early as this week or in the coming weeks.