Bitcoin Stays Strong After Hitting Fresh 3-Month High — Market Talk

Bitcoin continues to perform well, remaining comfortably above $80,000, after rising to a three-month high overnight. The cryptocurrency has continued to rally in the wake of last week's U.S. Treasury announcement about increasing buybacks of long-term bonds and President Trump pushing for the passage of the Clarity Act crypto legislation. Short covering, where investors close out earlier bets against an asset as it rises, has helped bitcoin's rally, Charles Schwab's Joe Mazzola says in a note. Bitcoin rises 2.3% to $80,732, having hit as high as $81,237 overnight, LSEG data show. Ether gains 1.4% to $2,509, near the six-month high of $2,545 reached on Saturday. ([email protected])