Bitcoin smashes records again, reaching all-time highs of $124,000
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Bitcoin reached a new all-time high early Thursday morning, surpassing $124,000 (€106,162.60), amid euphoria for the stock markets following the release of better-than-expected US CPI data , which paves the way for further interest rate cuts .
According to Bloomberg data, at 2:30 a.m. (00:30 GMT), the most widely traded cryptocurrency stood at $124,515 , shattering the previous all-time high of $123,205. However, just minutes into the European trading session, Bitcoin plummeted, losing as much as 1.2% and returning to the $121,000 level (€103,594.15).
According to Renta 4 Banco, "the expectation of cuts by the US Federal Reserve (Fed) continues to push the markets higher, and the S &P 500 and the Nasdaq hit new all-time highs yesterday, as did Bitcoin."
El Confidencial
