The worlds largest crypto-asset by market capitalisation climbed as much as 0.9 to US124 002.49 in early Asia trading, surpassing its previous peak hit in July. On the day, the second largest crypto token ether hit 4 780.04, the highest level since late 2021.
Bitcoins rally is being powered by increasing certainty of Fed rate cuts, sustained institutional buying and moves by the Trump administration to ease investment in crypto assets, said IG market analyst Tony Sycamore.
Technically, a sustained break above 125k could propel BTC to 150 000, he wrote in a note.