Bitcoin Rockets Past $80k as Liquidity Fears Abate

Bitcoin's price has surpassed $80,000 for the first time since May 4, as its rally continues to gain momentum. This surge comes amid improving liquidity expectations and a broader cryptocurrency market lift.

The U.S. Treasury's decision to double the size of certain debt buyback operations has eased liquidity concerns and strengthened demand for risk-sensitive assets, contributing to Bitcoin's nearly 30% gain in the last week.

Ethereum has risen more than 25%, while XRP has advanced almost 30%. The breakout is accompanied by strong trading volume, adding credibility to the latest upward move.

However, market data shows that momentum indicators remain bullish but increasingly stretched. The relative strength index hovers near 85, placing BTC firmly in overbought territory.