“The Milestone Reflects a Year-Long Build in Bullish Sentiment, Fueled by a Friendlier Regulatory Backdrop Under President Donald Trump and The Rapid Adoption of Corporate Treategate Strateury”, – WRITE: www.coindesk.com
High-Resolution Image of Numeros Shiny Gold Bitcoin Tokens Stacked Together. (Kanchanara/Unplash)
- Bitcoin Surged Past ITS PREVIUS RECORD, SURPASSING $ 124,000, AS IT MIRRORED A Rally in US Equities.
- The Cryptocurrency Became The Fifth-Largest Asset by Market Capitalization, Overtaking Google’s $ 2.4 Trillion.
- Analysts are now Eyeing $ 135,000– $ 138,000 as The Next Potential Target for Bitcoin.
SURGED PAST ITS PREVIUS RECORD ON WEDNESDAY, Rallying in Tandem with US Equities As Investors Continued Pilt Into Risk Assets Ahead of Key Macro Catalysts.
BTC Rose Above $ 124,000 in Early Asia Trading on Thursday, Topping The July 14 High of $ 123.205, Before Seeing Slight Profit Taking. The MOVE CAME AS The S&P 500 Logged ITS SecondeCactive Record Close, Meaning BTC Mirrored A Rally in Stocks As Both Markets Feed Off The Same Bullish Macro Backdro.
It Became The Fifth-Largest Asset by Market Capitalization Across All Assets, Data Shows, Crossing Google’s $ 2.4 Trillion.
The Milestone Reflects a Year-Long Build in Bullish Sentiment, Fueled by a Friendlier Regulatory Backdrop Under President Donald Trump and The Rapid Adoption of Corporate Treategate Strateury
Michael Saylor’s Strategy (Mstr) Pioneered The PlayBook of Stockpiling Btc as a Balance Sheet Asset, A Move Now Mirrored by Smaller Public Companies – An IncreASING, BY ETHER.
The Result Has Been Broad-Based Strength Across Top Digital Assets, With Bitcoin’s Market Capitalization Climbing to $ 2.46 Trillion and Ether’s to Nearly $ 575 Billy, Accounting to Coing To. Together, The Two Dominate Roughly 70% of All Crypto Trading Activity.
The Rally Is Also Riding A Wave of Macro Optimism. US Inflation Data This Week Landed in Line with Expectations, Reinforcing Bets that the Federal Reserve Will Class Interest Rates in September.
Lower Borrowing Costs Tend to Boost Valuations for Riskier Assets by Easing Financial Conditions, Creating A Spillover from Blue-Cchip Equities Into High-Valatiness Corners Like Like Like Like.
With Bitcoin Now Firmly Above the $ 120,000 Resistance Zone, Some Technical Analysts Are Eyeing $ 135,000 – $ 138,000 as The Next Upside Target, as Coindesk Reported Earlier in.
Shaurya Holds Over $ 1,000 in Btc, Eth, Sol, Avax, Sushi, Crv, Near, YFI, YFI, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, CAKE, Vet, Vet, Vet RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, Banana, Rome, Burger, Spirit, and ORCA.
He Provides Over $ 1,000 to Liquidity Pools on Compound, Curve, Sushiswap, Pancakeswap, Burgerswap, Orca, AnaSwap, Spiritswap, Roki Protocol, Yearn Finance Olympusdao, Rome, Trader Joe, and Sun.
X Icon
BTC Hit Record Highs Above $ 124,000 Early Today, But The Momentum Has Quickly Faded Consistent with the Pattern Seen Since Mid-July.
- Long-Term Holders Have Accelerated their Selling, Impacting Market Momentum, Accounting To Observers.
- Blockchain Data Reveals A Decline of Over 300,000 BTC Held by Long-Term Wallets in The Past Four Weeks, with Dorman Wallets Become Active.
- Institutional Call overwriting has led to redeCed volatility, While Strong Demand at $ 118,000 Levels Supports The Market Amid Macroeconsomic Tailwinds.
Read Full Story