Fed Hike Fears Ease, Bitcoin Price Soars Above $80k
Bitcoin's price surged above $80,000 on Thursday, reaching $80,270.69 as markets responded to easing Federal Reserve rate hike expectations.
The rally lifted risk assets across the board, with Ethereum climbing back above $2,450. The sudden move also led to the liquidation of roughly $86 million in short positions within an hour.
The US economy's stronger-than-expected performance supported the Bitcoin price surge.