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The cryptocurrency rally, which resumed late last month, is fast gathering pace, with Bitcoin (BTC) hitting a new high on Thursday morning. Bitcoin surpassed $111,000 for the first time to hit a new all-time high. Interestingly, the jump in Bitcoin came despite the broader market ending lower on Wednesday.
Bitcoin had a robust 2024. Experts predicted that the cryptocurrency has the potential to surpass $140,000 once global tensions ease. The ongoing Bitcoin rally is being driven by easing global tensions and hopes of the Federal Reserve resuming rate cuts later this year.