Bitcoin Soars Above $80,000 Amid Weaker Dollar and Renewed Crypto Hopes
Bitcoin has hit a three-month high above $80,000 as a weaker US dollar and renewed hopes for clearer crypto rules lifted demand.
The world's largest cryptocurrency reached $81,237.94 in Asian trading on Tuesday, its highest level since mid-May.
This rally is partly due to US President Donald Trump's call last week for Congress to pass legislation providing clearer rules for the industry, which has led to a 16 percent gain in Bitcoin.
A softer dollar has also fueled demand for Bitcoin and other assets seen as hedges against currency weakness, including gold, which has risen to a three-month high.