Bitcoin Roars Above $80K on ETF Demand, Treasury Buyback Boost

Bitcoin's price surged above $80,000 for the first time since mid-May on Tuesday, marking its strongest weekly rally in over two years. The cryptocurrency traded as high as $81,160.06, with a seven-day gain of about 25.8%, according to CoinGecko data.

The rally coincided with increased demand through US spot Bitcoin exchange-traded funds (ETFs), which saw net inflows of $1.92 billion last week. This development is significant, as ETFs provide institutional investors with a way to gain exposure to the cryptocurrency market.

The Treasury's expansion of long-end debt buybacks and President Trump's renewed push for crypto market structure legislation also contributed to the rally.