Crypto
Bitcoin Surges Past $80k on Bond Buyback Operation News
Bitcoin's price has surged past $80,000 in recent trading hours, coinciding with the U.S. Treasury's announcement of another bond buyback operation.
The cryptocurrency's technical setup is looking favorable, having broken above its 200-day EMA (red line) and the 23.6% Fibonacci retracement near $73,500.
This area has become an important short-term support zone for Bitcoin, while the 38.2% Fibonacci retracement of the latest downward impulse around $83,500 is reinforced by previous price action and local highs from the spring.
A weaker-than-expected U.S. NFP report could potentially accelerate a move above $83,000, opening the way toward a future test of the $90,000 area.