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Bitcoin surges above US$80,000 as soft US dollar, debasement fears boost momentum
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Bitcoin surged above US$80,000, driven by a weakening US dollar and growing concerns over currency debasement. The rally was further fueled by US Treasury Secretary Scott Bessent's efforts to calm the bond market, which revived momentum in the cryptocurrency sector. Bitcoin is up 28% so far in August, on track for its biggest monthly gain since November 2024. The article, published by The Business Times on August 25, 2026, highlights the interplay between traditional financial policy moves and crypto market dynamics.
Source report
SINGAPORE — Bitcoin has climbed above the US$80,000 mark, driven by a weakening US dollar and growing concerns over currency debasement. The cryptocurrency's momentum has been further bolstered by US Treasury Secretary Scott Bessent's efforts to calm the bond market, reigniting investor appetite for digital assets.
Key Highlights
- Bitcoin's August performance: The cryptocurrency has surged 28% so far in August, putting it on track for its largest monthly gain since November 2024.
- Market drivers: A soft US dollar and fears of currency debasement are providing strong tailwinds for Bitcoin.
- Policy impact: Treasury Secretary Bessent's moves to stabilize the bond market have revived momentum in the crypto sector.
Image credit: Bloomberg
Source
The Business TimesRegional
Part of this Story
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