Bitcoin Topples $80,000 Barrier as Crypto Market Momentum Returns

Bitcoin has broken through the $80,000 barrier for the first time in three months, as optimism returns to the crypto market. This price milestone was last reached on May 15.

The cryptocurrency's surge comes after a 23% rally over the past week, its largest weekly increase in about three years. Despite this, Bitcoin remains significantly below its peak of around $126,000, reached in October.

The confluence of bullish signals has forced the liquidation of billions of dollars in leveraged bets. This has added to the momentum behind the cryptocurrency's rise.