Bitcoin surges to a new all-time high above $124,000
The wider cryptocurrency market is thriving, with top 100 coins recording double-digit weekly gains amid a shift towards high-growth digital assets.
Bitcoin has secured a new all-time high, with its price momentarily climbing above USD 124,000 and capturing headlines again. The milestone has solidified its upward trajectory, even with modest daily gains.
At the same time, Ethereum has also experienced a stellar month. It is now positioned less than two percent away from breaking its previous all-time high for the first time in nearly four years.
The broader cryptocurrency market is thriving alongside these two giants. Many of the top 100 digital assets are basking in double-digit weekly gains, with Solana up by 23 percent and Ethereum’s rise of 30 percent particularly noteworthy.
A combination of positive regulatory shifts and economic optimism in the United States drives the robust market momentum.
A return to high-growth investments is the primary theme, with institutional investors increasingly flocking to Ethereum as a treasury asset.
Following favourable inflation data, the shift is fuelled by expectations of a September interest rate cut in the US. The anticipated monetary easing has encouraged a move toward ‘risk-on’ assets within the cryptocurrency sector.
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