Bitcoin Surges Past $80,000 on US Treasury Bond Interventions and Trump's Crypto Push

Bitcoin has broken above the $80,000 barrier for the first time since May, thanks to US Treasury bond interventions and President Trump's push for crypto-friendly legislation. The surge in price was driven by a combination of factors, including the Treasury's decision to double its buyback limits for long-dated government bonds, which artificially capped the 30-year Treasury yield.

The 'debasement trade' revival has seen investors rotate capital out of fiat instruments and into hard assets, with spot gold concurrently rallying to a three-month high alongside Bitcoin. The market's flight to scarcity is evident in the price action, with institutional inflows reaching an estimated $1.92 billion in net inflows last week.

Geoff Kendrick, global head of digital assets research at Standard Chartered, noted that the Treasury's intervention was 'exactly the type of thing bitcoin loves,' highlighting that the decentralized protocol was engineered to provide a haven from central bank monetary manipulation.