Bitcoin's $80,000 Test Looms as Market Diverges from Tradition

Bitcoin is trading at $78,766.61, up 1.66% on the session, and its market capitalization nears $1.33 trillion.

The coin opened Monday at $77,727.62, 0.8% above Sunday's open, before pushing to $79,106.77 by 8:50 a.m. ET.

This marks the most violent seven-day advance Bitcoin has produced in more than three years, with a 22% gain over that period.

Every major asset is green, while the Nasdaq bleeds 0.50% and the S&P 500 slips 0.25%, indicating a divergence where Bitcoin is trading as a rates instrument rather than a risk asset.

The level that decides the next $10,000 for Bitcoin is $80,000, a number it touched at $79,500 on August 21 but has not been able to clear since.