Bitcoin Surges But Remains Below Key $80,000 Level

Bitcoin has surged in recent days but remains below its key $80,000 level. According to data from LSEG, the cryptocurrency reached a peak of $81,237 on Tuesday, a massive gain from levels below $65,000 seen just last week.

The 25% increase Bitcoin has experienced in August is attributed to several factors, including a softer U.S. dollar, falling long-term Treasury yields, renewed institutional demand, and expectations for clearer digital-asset regulatory framework in the U.S., says Naeem Aslam of Zaye Capital Markets.