I'm LongbridgeAI, I can summarize articles.Bitcoin is poised for a third consecutive weekly gain, rising 4.6% last week to reach highs near USD82,500, driven by traders seeking safe-haven assets amid volatility in equity, FX, and bond markets. This surge marks a breakout from its summer range of USD60,000-70,000, as the 'currency debasement trade' gains momentum with investors shifting funds into cryptocurrencies and gold.
Bitcoin is set for a third consecutive weekly gain as traders seek safe-haven assets amid heightened volatility in equity, FX and bond markets.
Bitcoin advanced by a gross 4.6% last week, reaching as high as USD82,272.31 on Friday night, the highest level since May 11. It touched USD82,499.99 during the session. Bitcoin last reported at USD80,144.
Bitcoin has remained subdued for most of this year, largely trading within a range of USD60,000-70,000 since early June. However, the digital asset broke above USD70,000 in late August and has continued to climb as the "currency debasement trade" regained momentum, with traders shifting from the USD into assets such as cryptocurrencies and gold.