Bitcoin Tops $81,000 — Is the Debasement Trade Back?

Bitcoin surged past $81,000, reaching multi-year highs. Market commentary frames the rally as a return of the “debasement trade,” with investors buying Bitcoin as a hedge against fiat debasement amid accommodative monetary conditions and strong ETF and institutional inflows. The price action reinforces the narrative of Bitcoin as a digital inflation hedge and is likely to attract additional institutional capital into the asset class. That increased adoption could tighten supply, amplify price sensitivity to macro signals, and raise both upside potential and volatility.