Bitcoin reached a record peak of $1,24,210 on Thursday, driven by growing expectations of a more accommodative monetary policy from the US Federal Reserve.
Financial reforms and pro-crypto policies promoted by US President Donald Trump’s administration further strengthened investor enthusiasm.
The world’s leading cryptocurrency by market value climbed 0.9 per cent to $1,24,210, surpassing its previous July high, though by 10:30 AM, the price had eased slightly to $1,23,036.80.
Ethereum, the second-largest crypto, also touched $4,780.04, its highest level since late 2021.
Markets are increasingly optimistic that the Federal Reserve may begin cutting interest rates as soon as September 2025, following July data showing US inflation at 2.7 per cent year-on-year, below the anticipated 2.8 per cent.
Institutional buying, along with US regulatory measures to ease crypto investment, has added momentum to the rally. Recent stablecoin regulations and the SEC’s overhaul of rules for digital assets have reinforced investor confidence.
Analysts noted that a sustained climb above $1,25,000 could push Bitcoin to $1,50,000.
Since Trump’s return to the White House, Bitcoin has surged nearly 32 per cent year-to-date, with the President earning the nickname ‘crypto president’.
A recent executive order now permits including crypto assets in 401(k) retirement accounts, highlighting the US’s supportive regulatory stance.
CoinMarketCap data shows that the total market capitalisation of cryptocurrencies has jumped to over $4.18 trillion since Trump’s election, up from around $2.5 trillion in November 2024.
The surge was not limited to Bitcoin. Several other cryptocurrencies, including Solana, XRP, and Dogecoin, also saw notable gains as investors speculated on potential capital rotation from Bitcoin to altcoins.
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