Bitcoin Tops $80,000 for the First Time Since May as Rally Surges 25% in a Week

Bitcoin crossed the $80,000 threshold on Monday for the first time in more than three months, reaching its highest price since mid-May and extending a rally that has now gained roughly 25% over the past week. The move was fueled by a confluence of bullish factors: optimism around cryptocurrency legislation, the U.S. Treasury's announcement of increased long-term bond buybacks to boost liquidity, and strong renewed inflows into spot Bitcoin ETFs, which pulled in a net $1.92 billion for the week, the largest weekly haul in 10 months.

The surge forced the liquidation of billions of dollars in leveraged bearish bets, amplifying the upward move. Ethereum and XRP also climbed alongside Bitcoin, while Dogecoin slipped. Bitcoin's year-to-date context shows it remains well below its 2026 peak of $94,820 set in mid-January and an all-time high of $126,198 hit last October, though some analysts now argue the extended bear market is coming to a close.