By Anifowoshe Oladipupo
Bitcoin surged past $124,000 on Thursday, setting a new all-time high and eclipsing its previous record from July.
Analysts attribute the rally to a combination of bullish US equities and a friendlier regulatory climate under President Donald Trump.
The S&P 500 and Nasdaq also hit record highs this week, reflecting broader market optimism.
Samer Hasn, senior market analyst at XS.com, described the moment as a “period of highly favorable fundamentals,” citing Trump’s rollback of restrictions that previously limited banks from working with crypto firms.
A vocal advocate of digital assets, Trump is reportedly pushing for deeper integration of cryptocurrencies into the US financial system.
The policy shift, bolstered by heavy investments from large-scale holders (“whales”) and companies such as Tesla and Trump’s media group has fueled Bitcoin’s historic rally.
