Bitcoin Surges Past $80,500 Amid Geopolitical Tensions

Bitcoin's price surged past $80,500 on September 7 but later trimmed some gains to trade around $79,777.

The rise was attributed to geopolitical tensions, rising oil prices, bond yields, and stronger US jobs data.

Nischal Shetty, Founder of WazirX, said that near-term pressure may arise as higher yields make risk assets less attractive.

Shetty predicts a decisive break above $82,300 on healthy volume could lead to a next zone of $84,000, $85,000, while a sustained move below $77,500 could trigger a deeper retracement.