Bitcoin broke back above $80,000 Thursday as global bond yields retreated from their 2026 highs, sparking a rally across crypto-linked stocks.
The largest cryptocurrency recently traded around $81,119, up about 5% from its 4 p.m. ET level on Wednesday. Bitcoin had pulled back from its late-August surge above $80,000, which was triggered by the Treasury Department's expanded bond-buyback program about two weeks ago.
Thursday's resurgence lifted major crypto-related stocks. Shares of popular trading app Robinhood surged 16% Thursday afternoon to lead gains in the S&P 500. Coinbase Global, the largest crypto exchange in the U.S., gained 11% as the index's second-best performer.
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