Bitcoin's price increased by 2% on Monday, nearing $80,000, while Ether also rose by 2% to around $2,500, both reaching levels not seen since earlier this year. This rally follows a significant macro shift, including the U.S. Treasury's announcement to double its purchases of longer-dated government bonds, which helped lower yields and boost demand for risk assets like bitcoin.
Notably, institutional interest has returned, with spot bitcoin ETFs seeing $1.92 billion in inflows last week, the highest since October 2025. Additionally, over $4 billion in bearish crypto positions were liquidated as prices climbed. Analysts, including BTIG's Jonathan Krinsky, noted that this rally resembles a previous surge in January 2023, although that rally eventually faded.
Bridgewater Associates' Ray Dalio has also suggested that investors consider holding bitcoin due to potential future debt crises in major economies, further supporting the asset's recent performance