Daily Market Updates: Bitcoin jumps more than 9% to hit near $79,500

Crypto

Home›Crypto›Bitcoin›Bitcoin jumps more than 9% to hit near $79,500

Bitcoin jumps more than 9% to hit near $79,500

The rally pushed Bitcoin to its highest level since late May as more than one catalyst coincided, including institutional buying and short covering.

Reported · Written up by our desk · Bitcoin

Bitcoin rose more than 9% to a peak of $79,455 on Friday, its highest level since late May, driven by a convergence of catalysts, according to WSJ Markets.

WSJ Markets said the move reflected institutional demand alongside short covering and progress on the Clarity Act, as investors reacted to improving visibility around the crypto regulatory path.

Latest closeBitcoin $77,298.59 ▲5.8%

← Newer storyUSDCAD hits new weekly low as Canadian retail sales lift CAD Older story →Euro zone PMIs point to resilient growth and cooler price pressures

More like this

CryptoBitcoin is on track for its strongest week in more than two years

CryptoBitcoin tops $79,000 after short squeeze and liquidation cascade

CryptoBitcoin climbs toward $80,000 as ETF flows rebound and liquidity improves

CryptoBitcoin nears $80,000 as more than $4 billion in shorts are liquidated

CryptoBitcoin heads for a roughly 20% weekly gain amid renewed optimism

Sources

WSJ MarketsBitcoin Surges as Institutional Demand, Short Covering, Clarity Act Progress Converge

Crypto

Bitcoin jumps more than 9% to hit near $79,500

More like this

Sources

Get the close, explained.