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Bitcoin crosses $80,000 mark for first time since January
04 May 2026

Bitcoin has crossed the $80,000 mark for the first time in over three months.

The cryptocurrency hit a high of $80,393 on Monday morning in Singapore. This is its highest value since January 31.

The surge comes amid a rally in Asian stocks, with MSCI's Asian equities gage nearing an all-time high set back in February.

Bitcoin's gradual recovery
Market trends

Bitcoin hit a record high of over $126,000 in October last year. However, it faced a months-long decline that brought its value down to around $60,000 by February.

Since then, the cryptocurrency has been making a gradual recovery. This is partly due to increased institutional demand as US Bitcoin exchange-traded funds (ETFs) recorded net inflows of $630 million on Friday.

Optimism surrounding US stablecoin legislation
Legislative impact

The optimism surrounding a possible US deal on a key stablecoin yield provision is also boosting market sentiment.

This development could pave the way for comprehensive crypto legislation in the Senate.

Richard Galvin, executive chairman at DACM, a crypto investment firm, said that while it's "early days," $80,000 has been a major psychological barrier for traders.