Bitcoin surged past $124,000, setting a new record and making its mark as the fifth-largest asset by market capitalization, overtaking Google’s worth of $2.4 trillion. This upward movement mirrors a broader rally in U.S. equities, with investors showing increasing interest in risk assets ahead of significant macroeconomic developments.

What to Know:

• Bitcoin ascended beyond its previous all-time high of $123,205 earlier this week.
• The cryptocurrency’s rise is attributed to a favorable regulatory environment during Donald Trump’s presidency and the adoption of BTC as a treasury asset by various corporations.
• Analysts speculate that BTC could target the next levels at $135,000 to $138,000.

This milestone marks the culmination of a year-long bullish trend, driven by evolving market dynamics where Bitcoin’s growth reflects broader economic optimism, especially with signs pointing to a potential interest rate cut by the Federal Reserve.