Bitcoin briefly tops $80,000 for first time, extending its Trump-fueled rally

The price of bitcoin topped $80,000 for the first time Sunday, extending a rally fueled by cypto optimism following Donald Trump’s election win.

Bitcoin BTCUSD hit as high as $81,074 on Sunday afternoon before slipping back to $78,920 as of 4 p.m. Eastern, according to CoinDesk data. The world’s largest cryptocurrency has surged more than 14% over the past week, and more than 25% over the past month. Over the past 12 months, it’s rallied more than 112%.