Bitcoin briefly surged past $117,500 at 5 AM Taiwan time today (the 11th), setting a new historical high, while Ethereum also briefly broke $3,000. As of the time of writing, Bitcoin is reported at $115,636 and Ethereum at $2,939.
Market analysis indicates that as long as Bitcoin does not fall below $105,000 in the short term, this new high will be considered a valid breakthrough. Additionally, the latest U.S. unemployment figures came in lower than expected, raising market expectations for an imminent interest rate cut, which has boosted cryptocurrency prices across the board.
Next week, the release of U.S. CPI data will become another important indicator to observe the impact of Trump's policies on inflation.
The strong gains are also largely due to the fuel provided by the bears. According to Coinglass data, over the past 24 hours, bears faced liquidations of $1 billion, with more than 230,000 people being liquidated.
Earlier, on the 10th, U.S. stocks once again welcomed multiple milestones: NVIDIA officially crossed the $4 trillion market cap, and the S&P 500 and Nasdaq indexes hit new highs; this series of new highs is not driven by a single favorable piece of news but is a collective choice of global capital under macro changes.
NVIDIA's closing market cap reached $4 trillion; the AI craze continues.
NVIDIA's stock price rose 0.7% on the 10th, officially surpassing a market cap of $4 trillion. The S&P 500 index rose 0.27%, closing at 6,280.46 points, while the Nasdaq index saw a slight increase of 0.09%, closing at 20,630.66 points, both hitting new highs.
Although President Trump recently announced a new wave of tariff policies, he has earlier extended the negotiation deadline to August 1, temporarily alleviating market concerns about tariff risks. Capital has flowed back into large technology stocks and AI-related assets, boosting the overall index.
Capital flow and market sentiment: Are technology and crypto assets becoming safe havens?
Looking back at this wave of market movement, whether it is NVIDIA's new market capitalization high or Bitcoin's breakthrough, it reflects the global capital's choice of high-growth and high-elasticity assets as safe havens under geopolitical tensions, inflationary pressures, and policy uncertainties.
Despite the volatility of AI technology and cryptocurrencies, these assets undoubtedly become the focus as capital seeks the 'next story'.
However, investors still need to pay attention to the impact of U.S. tariff policies on the global supply chain. As the market seeks certainty amid uncertainty, who can become the next safe haven for funds remains to be observed.
