Bitcoin rose for the third consecutive week, up 4.6% to $81,151, and touched a new high of $82,272 overnight, the highest since May, as safe-haven demand increased amid macro pressures.
Bitcoin rose 4.6% this week, briefly touching $82,272.31 overnight, its highest level since May 11, when it reached $82,499.99. CNBC reported that traders sought refuge amidst macro pressures of increased volatility in stock, currency, and bond markets, driving Bitcoin's third consecutive weekly gain. Dominika Nestarcova, Executive Director of Digital Assets at Goldman Sachs, noted that the U.S. Treasury's announcement of increased long-term bond purchases led to lower long-term yields and a weaker dollar, reigniting investor interest in Bitcoin. Other digital assets also surged, with Ethereum hitting $2,545.62 on Friday and Solana rising to approximately $105.70, both reaching new recent highs.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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