Bitcoin Soars Past $80K as Ethereum and XRP Hold Gains

Bitcoin has broken above $80,000 for the first time in almost four months, driven by strong investor sentiment and institutional demand. The Crypto King's price surge is supported by a significant influx of funds into US-listed Bitcoin Exchange-Traded Funds (ETFs), totaling $2.26 billion over six days.

Ethereum has also extended its gains for the third consecutive day, with bulls eyeing a short-term breakout above $2,600. The altcoin's price is currently hovering near $2,500, while Ripple is holding onto last week's gains and trading around $1.50.

The renewed bullish momentum in Bitcoin and Ethereum can be attributed to several factors, including the US Treasury's long-term bond buybacks and the Securities and Exchange Commission's efforts to establish clearer regulatory guidelines for the industry.