Bitcoin Hits a New All-Time High (~$124K)…🚀🚀🚀

Bitcoin recently soared to record-breaking territory, reaching approximately $124,400, and momentarily touching $124,500, fueled by optimism around U.S. legislation and strong performance in equities markets.

Bitcoin (BTC) and the broader cryptocurrency market extended their strong upward momentum on Thursday as a slew of positive developments boosted investors’ appetite for high-risk digital assets. The ongoing rally has been fuelled by multiple factors, including growing optimism for a potential U.S. Federal Reserve rate cut in September, aggressive accumulation by corporate and institutional players, steady inflows into cryptocurrency-focused exchange-traded funds (ETFs), and a surge in bullish activity in the derivatives market, analysts said

The price of Bitcoin, the largest cryptocurrency, touched a fresh all-time high of $124,400, taking the overall crypto market capitalisation (m-cap) to a record $4.18 trillion. If the momentum continues, analyst expects BTC to cross $140,000 in the coming weeks.

Similarly, Ethereum, the second-largest cryptocurrency by m-cap, surged to $4,786, inching close to its record high of $4,891.70 reached on November 16, 2021.#PowellWatch #MarketPullback #ETHStakingExitWatch #CryptoIntegration #CryptoIntegration