Bitcoin Surges Past $81,000 Amid Waller's Rate Comments

The crypto market cap surged to $2.7 trillion after Bitcoin rallied by almost 5% and reclaimed the $81,000 mark.

This significant gain was largely driven by comments from Federal Reserve Governor Christopher Waller, who signaled that he could support holding interest rates steady at the Fed's September meeting if inflation continues to cool.

The decline in US government bond yields also contributed to the rally, as lower yields tend to push investors toward riskier assets like cryptocurrencies.

As a result of this increased demand, Bitcoin rose 4.91% from its daily opening price and reached $81,100 during the session, with the total crypto market capitalization increasing by 4.35%.