Bitcoin, the world’s largest cryptocurrency by market capitalization, rose 0.9 percent in early Asian trading to $124,002.49, breaking its previous peak set in July.
Ether, the second-largest cryptocurrency, also surged during the day to $4,780.04 — its highest level since late 2021.
IG market analyst Tony Sycamore attributed Bitcoin’s rally to growing confidence that the US Federal Reserve will cut interest rates, continued institutional buying, and policy moves by President Donald Trump’s administration aimed at making investment in crypto assets easier.
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