FX.co ★ Bitcoin Hits New All-Time High

In mid-July, Bitcoin surged to approximately $112,000, achieving a new record high as investors gravitated towards riskier assets amidst a widespread rally in the stock market. Contributing to this ascent was technology giant Nvidia, which momentarily became the first company to reach a $4 trillion market capitalization. Since the beginning of the year, Bitcoin has experienced an over 18% increase, buoyed by persistent institutional demand as traditional financial institutions gradually adopt the world’s largest cryptocurrency. Furthermore, the pro-crypto policies of the Trump administration have bolstered the digital asset market, facilitating fresh capital inflows. In the broader market, concerns such as escalating trade tensions triggered by President Trump's tariff demand letters appeared to be overlooked. Additionally, the latest Federal Open Market Committee minutes revealed that most officials were considering interest rate cuts later in the year, a measure typically viewed as beneficial for Bitcoin.