Bitcoin surges past $80,000

The cryptocurrency market extended its bullish momentum over the past 24 hours, APA-Economics reported, citing CoinMarketCap data.

Bitcoin gained 4.88% to trade at $80,749.35. Meanwhile, Ethereum climbed 2.79% to $2,503.83, BNB rose 2.82% to $716.58, and Monero jumped 5.93%. In contrast, gold-backed tokens saw minor pullbacks, with PAX Gold (PAXG) easing to $4,631.24 and Tether Gold (XAUT) slipping to $4,620.02.

Total crypto market capitalization expanded by 3.88% to $2.71 trillion. Analysts attribute the rally to broad US dollar weakness, steady inflows into spot Bitcoin ETFs, and upbeat sentiment regarding US regulatory developments.

N.Tebrizli