Crypto Market Hits May Highs as Bitcoin Surges Past $82K
The cryptocurrency market has seen significant gains in recent days, reaching highs not seen since May. Bitcoin was the key driver of this growth, with altcoins providing support as it surged past $82K overnight before pulling back to just below $81K by the start of European trading hours. The top gainers over the past 24 hours were (+18%), (14.7%), and (+9.5%).
The market's renewed highs have sparked profit-taking, with some investors hedging against currency depreciation through Bitcoin and gold. Galaxy Research notes that Bitcoin has surpassed its 50-week moving average at $81K, a level it had not broken since late 2025.
Bitwise's Chief Investment Officer, Matt Hogan, recommends holding both Bitcoin and shares in artificial intelligence companies in portfolios to safeguard against rising US government debt. Anthony Pompliano, CEO of ProCap Financial, agrees that a combination of Bitcoin and AI would make for an ideal investment portfolio.