Bitcoin Surges Past $80,000 on Shift in US Treasury Policy

Bitcoin's price has surpassed $80,000 for the first time since May, marking a significant rebound from its June low of around $58,000. This 38% increase in value can be attributed to a shift in U.S. Treasury policy that has brought ETF buyers back into spot markets.

The move away from Treasury conditions that looked hostile in June led to many traders exiting the market, but with the easing of these conditions, they are now reconsidering their trades at higher prices. This change in behavior is driven by the fact that bitcoin's price has become increasingly sensitive to dollar liquidity and short-term rate expectations.

The return of ETF demand is not just a trickle, but a visible bid that absorbs spot supply around key technical levels. This structural difference between this recovery and a short squeeze is notable, as it indicates that the market is rebuilding a more durable base of demand.