Bitcoin rose 2.1% to $79,420 after trading above $80,000 earlier in the day for the first time in three months. Zaye Capital Markets identified three factors that could shape the cryptocurrency’s next move: stronger institutional buying, regulatory progress including the CLARITY Act, and conditions in the U.S. Treasury market. U.S. spot Bitcoin ETFs recorded around $1.92 billion in combined net inflows from August 17 through August 21, although the firm said a rally driven mainly by short covering could prove temporary. Bitcoin continues to move with risk assets such as equities, but analysts also see it potentially benefiting when inflation, government debt and geopolitical uncertainty increase. Treasury yields and concerns about fiscal sustainability could influence demand for Bitcoin as an asset perceived as a store of value, particularly because its supply is fixed.