Bitcoin's value reaches a new peak

Growing expectations that the US Federal Reserve will implement a looser monetary policy pushed Bitcoin's value to a record level on Thursday. Bitcoin, which showed a 0.9 percent increase in early Asian market hours, reached 124,002.49 dollars, surpassing the previous peak recorded in July. At the same time, Ether, which ranks second in terms of market capitalization, rose to 4,780.04 dollars, seeing its highest level since late 2021.

IG market analyst Tony Sycamore stated that this rise in Bitcoin is supported by increasing expectations that the Fed will cut interest rates, continued purchases by institutional investors, and steps by the Trump administration to facilitate crypto asset investments.

Based on his technical analysis, Sycamore commented, "A sustained break above 125 thousand dollars could carry Bitcoin's value to 150 thousand dollars."

News Source: 12punto