Bitcoin Soars Above $80,000 as Weaker Dollar Boosts Crypto Demand

Bitcoin has broken above $80,000 for the first time in over three months, driven by a weaker U.S. dollar and fresh backing from politicians.

The largest cryptocurrency reached an intraday high of $81,237.94 on August 25, with its price surpassing the significant milestone during the Asian trading session at $80,323.24.

This increase in value is attributed to a combination of factors, including the U.S. Treasury's plan to expand buybacks of long-term bonds and U.S. President Donald Trump's address to Congress, where he urged lawmakers to support clearer rules for the cryptocurrency industry.