Bitcoin Hits $82,272 for Third Weekly Gain as Debasement Trade Regains Momentum
Updated
Updated · CNBC · Sep 4
Bitcoin Hits $82,272 for Third Weekly Gain as Debasement Trade Regains Momentum
1 articles · Updated · CNBC · Sep 4
Summary
Bitcoin climbed 4.6% week to date and touched $82,272.31 overnight, putting it on course for a third straight weekly advance; it last traded at $81,151.10.
The breakout followed renewed demand for refuge trades after the U.S. Treasury increased purchases of longer-dated Treasuries, pushing long yields lower, weakening the dollar and lifting both crypto and gold.
That move extends a sharp turn from months of rangebound trading around $60,000 to $70,000, with bitcoin breaking above $70,000 in late August and reaching its highest level since May 11.
The rally broadened across major tokens, with Ether rising to $2,545.62 — its highest since Aug. 27 — and Solana reaching about $105.70, the strongest since Aug. 31.