The price of Bitcoin has exceeded the $80,000 mark for the first time in over three months amid a rally in Asian stock markets. This was reported by Bloomberg, according to UNN.
Details
On Monday morning in Singapore, the value of the cryptocurrency rose by 1.9% to $80,393, its highest level since late January. Other digital assets, including Ether, also showed gains.
The rise comes as the MSCI index of Asian shares approaches historic highs following strong financial results from technology companies.
Growth Factors
Markets are also reacting to geopolitical signals. In particular, U.S. statements regarding the intention to escort neutral vessels through the Strait of Hormuz are coupled with warnings from Iran about the possible consequences of such intervention.
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After falling from a record high of over $126,000 last October, Bitcoin dropped to around $60,000, but has been gradually recovering since then.
According to Bloomberg, the net inflow of funds into Bitcoin ETFs in the U.S. amounted to $630 million in just one day.
Market Expectations
Analysts note that breaking the $80,000 level has significant psychological importance for the market.
"This is just the beginning, but $80,000 has become a key barrier,"
Other experts believe that stabilizing the price above this level could strengthen the positive momentum in the crypto market.