Bitcoin hits $80,000 for the first time since May as crypto recovery accelerates

Bitcoin BTC $ 79,843.81 has crossed $80,000 for the first time since May 15, extending a recovery that has gathered momentum across crypto markets over the past week.

The largest cryptocurrency is now up roughly 38% from its late-June/early-July lows, when it briefly sank below $58,000.

The latest leg higher has also been accompanied by renewed demand from traditional investors. U.S.-listed spot bitcoin exchange-traded funds pulled in about $1.9 billion last week, the largest weekly inflow since October 2025.

The broader crypto recovery picked up speed last week as falling Treasury yields offered some relief after months of tight financial conditions. The U.S. Treasury doubled its planned buybacks of long-dated government bonds through early November, financing those purchases with more short-term debt issuance.

The final push to $80,000 on Monday came as Treasury suggested it could tap its nearly $1 trillion General Account (basically the U.S. government’s checking account) to fund the buybacks.

All eyes are now on the macroeconomic outlook, with several events happening this week, including the release of the Federal Reserve’s preferred inflation gauge, the price consumption index, or PCE.

“Core PCE will be closely watched for signs of whether underlying price pressures are continuing to moderate,” said Thadeu Dos Santos, regional director of FX-broker Infinox. “A firmer-than-expected reading could support Treasury yields and the dollar, while softer inflation could reduce expectations of further monetary tightening.”