Bitcoin
It surged beyond previous records on Wednesday, bringing together in partnership with US stocks as investors continued to pile up on risky assets ahead of key macrocatalysts.
BTC surpassed $124,000 in early Asian deals on Thursday, earning a small profit at $123,205 on July 14th. The move means that BTC reflected stock gatherings as both markets feed the same bullish macro background, as the S&P 500 recorded second straight times.
It was the fifth largest asset by market capitalization across all assets, surpassing what data shows: Google’s $2.4 trillion.
The milestone reflects a year-long build in bullish sentiment, backed by the background of friendly regulations under President Donald Trump and the rapid adoption of corporate financial strategies centered on Bitcoin accumulation.
Michael Saylor’s Strategy (MSTR) has pioneered a playbook that stocks up BTC as a balance sheet asset. This is now reflected by movements reflected by small public companies, and increasingly by etheric supporters.
The result is broad strength across top digital assets, with Bitcoin’s market capitalization rising to $2.46 trillion and ether close to $575 billion. Together, the two control about 70% of all crypto trading activities.
The rally also rides a wave of macro optimism. This week’s US inflation data landed in line with expectations, bolstering bets that the Federal Reserve will cut interest rates in September.
Lower borrowing costs tend to ease financial position and increase valuations of risky assets by creating ripples from blue chip stocks to highly volatile corners like crypto.
As Bitcoin is firmly resistant to the $120,000 resistance zone, as it focuses on the next upward target of $135,000-$138,000.
