Market Flux Event
Bitcoin Closes In on $80,000 After 25% Weekly Surge Fueled by Treasury Buyback Plans
Bitcoin rose Monday to near $80,000, a level last touched in May, after surging roughly 25% over the prior week. The rally was driven in large part by the U.S. Treasury Department's plans to buy back longer-dated Treasurys, a move seen as injecting liquidity into markets.
Over the past six months, bitcoin has outperformed both stocks and gold. Analysts are divided on what comes next. Some argue that consolidation near current levels could strengthen the rally, while noting that thin trading above $80,000 may produce sharper price swings in either direction.
At least one analyst is more bearish, warning that the approach to $80,000 is a trap and projecting a staged decline from $77,000 to $67,000, then $55,000, and ultimately to a range of $45,000 to $48,000.
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Sources
- CoindeskBitcoin nears $80,000, but analysts say the next pullback will be key
- Coin DeskBitcoin nears $80,000, but analysts say the next pullback will be key
- coindesk.comBitcoin nears $80,000, but analysts say the next pullback will be key
- cointribune.comBitcoin flirts with $80K again as the market stays on edge
- Crypto PotatoBitcoin’s $80K Rally Is a Trap, Analyst Warns of $45K Drop
- cryptopotato.comBitcoin's $80K Rally Is a Trap, Analyst Warns of $45K Drop
- MarketWatchBitcoin has beaten stocks and gold over six months. Now it’s closing in on $80,000.
- cryptobriefing.comBitcoin outperforms stocks and gold, approaches $80,000
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- benzinga.comBitcoin Hovers Near $80,000, Ethereum, XRP Spike, but Dogecoin Slips As Crypto Rally Gains Steam: Analyst Spots This New Bullish Signal for BTC
- FirstSquawkBitcoin Breaks Above $80,000 for the First Time in Months
- BusinessBitcoin climbed to $80,000 for the first time since mid-May, as optimism returns to the long-beaten-down crypto market amid a confluence of bullish signals that forced the liquidation of billions in leveraged bets
- cnbc.comBitcoin jumps 3%, closing in on $80,000 as rally gathers pace
- CnbcBitcoin jumps 3%, closing in on $80,000 as rally gathers pace