Bitcoin tops $80,000: 'Crypto winter is close to being over'

Investors got a hopeful signal on Thursday that bitcoin (BTC-USD) may defy its historically weak September trend.

The world's largest cryptocurrency jumped 4% on Thursday to rise above $80,000 as worries about a Federal Reserve rate hike eased and Treasury yields dropped.

The question is whether the token can remain above these levels, given that bitcoin has historically posted negative returns in September in nine of the past 15 years.

"It's important data, and we should respect it," Fundstrat head of digital assets Sean Farrell said. However, the strategist noted that the token has "bucked" this historical monthly trend over the past few years.

"We haven't seen a negative September in four years, and seasonality — it's a helpful data point, but it is not a foolproof system for trading these markets," he said.

The token is coming off a strong August rally, prompting some strategists to suggest that the crypto bear market may have bottomed out or is nearing one.

"The recent BTC price movement suggests that the crypto winter is close to being over," Noelle Acheson, author of "Crypto Is Macro Now," told Yahoo Finance.

The token rallied 25% last month as the Treasury Department's recent intervention in the bond market and assistance to Japan helped lift the prices of gold and crypto assets.