Bitcoin extended gains on Tuesday, as renewed inflows into spot bitcoin ETFs and improving risk appetite extended the cryptocurrency’s recent rally. The flagship cryptocurrency gained about 2.5% in early trading, briefly lifting it above $81,000. Bitcoin was last up 0.3% at $79,054.33. The latest move extends a sharp rally that began last week, when bitcoin surged more than 20% in three days, its biggest three-day gain since 2023. The rally was fueled partly by a short squeeze, with more than $4 billion in bearish crypto positions liquidated as prices rose. The gains followed the U.S. Treasury’s announcement that it would double its purchases of longer-dated government bonds. The move briefly pushed yields lower and revived demand for risk assets, while growing concern over inflation and government debt also boosted interest in assets perceived as scarce.

Full report : Bitcoin rises above $80.000 after jumping 20%+ last week, its biggest three-day gain since 2023; US spot bitcoin ETFs had $1.92 billion in net inflows last week.