Bitcoin Gains But Remains Below Key $80,000 Level — Market Talk

Bitcoin is higher in Asia but still remains below the psychologically important $80,000 level. The cryptocurrency rallied and rose above $80,000 earlier this week. The recent surge in bitcoin began as many traders pivoted away from the U.S. currency in what is known as the dollar debasement trade, Trade Nation's David Morrison says in a note. The dollar debasement trade has spurred support for bitcoin amid concerns about U.S. government debt and inflation. Bitcoin rises 0.4% to $78,749.22, LSEG data shows.([email protected])