Bitcoin Reclaims $80,000 as Wall Street Sentiment Shifts

Bitcoin reclaimed $80,000 on September 29, briefly trading at $81,079 before fluctuating around strong resistance levels.

The market capitalization of BTC rose to approximately $1.63 trillion, surpassing Tesla (TSLA) and ranking 14th among global assets.

Following a 9% correction from an interim high near $82,000 in early September, Bitcoin's price rebounded after the Federal Reserve announced a 25-basis-point rate hike on September 16.

Fidelity's Director of Global Macro Jurrien Timmer declared that the bear market is over, attributing the recovery to compliance capital support from the blurring boundary between traditional finance and decentralized finance.