Bitcoin Hits New All-Time High of $124,500

Bitcoin reached a new record price on Thursday during early Asian trading. It briefly surpassed $124,500, beating its previous high set in July. Later, the price dropped slightly but remained near this historic level.

The rise in Bitcoin’s price came as US stocks also hit new highs. Both the S&P 500 and the Nasdaq indexes reached fresh peaks this week, boosting investor confidence in cryptocurrencies.

Experts say recent US laws supporting the crypto sector helped push Bitcoin’s value upward. President Donald Trump has eased restrictions that once made it difficult for banks to work with crypto companies. This change is seen as very positive for the market.

Samer Hasn, senior market analyst at XS.com, said, “The crypto market is enjoying highly favorable conditions right now. Trump’s policies are helping integrate cryptocurrencies more deeply into the US financial system.”

Large Bitcoin holders, known as “whales,” have also been buying more, helping to drive prices up.

In addition, some big companies like Trump’s media group and Elon Musk’s Tesla have started investing heavily in Bitcoin, signaling growing acceptance of the digital currency in mainstream business.