Morning Minute: Bitcoin Breaks to $124k & New All-Time High
The post Morning Minute: Bitcoin Breaks to $124k & New All-Time High appeared on BitcoinEthereumNews.com.
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack. GM! Today’s top news: Crypto majors soar and then retrace ahead of PPI BTC hits new ATH of $124,128 overnight ETH reaches $4,780 on 2nd-biggest day of ETF inflows on record MetaMask partners with Stripe for stablecoin, may debut today Google Play Store revises policy requiring licenses for non-custodial wallets 🚀 Bitcoin Breaks to New All-Time High We have a smashing new BTC ATH on the books. And it may be time for Bitcoin to shine. 📌 What Happened Bitcoin just printed a new all-time high, topping $124,128 and breaking past its July record. Ethereum is charging higher too, now within less than 4% of its 2021 ATH, trading above $4,780 at peak overnight. Other majors and alts are soaring as well, including SOL which is now back over $200. So what’s driving this uptrend? ETF inflows have stayed hot, with BTC products pulling steady institutional demand even through the summer lull Macro tailwinds and expectations for a Fed rate cut in September (now at 99% likelihood) are adding fuel, with traders rotating into risk assets Global liquidity backdrop, with easing in Asia and fresh capital in emerging markets are giving risk-on sentiment more legs. Notably, Bitcoin dominance has dropped to 59% amidst the new ATH, signifying the potential for an ETH + ALT SZN. 🗣️ What They’re Saying “If you bought #Bitcoin every day like the El Salvador government, you’d have a 115% return! Since Nov 18, 2022, El Salvador has been buying 1 $BTC per day — buying 1,000 $BTC (cost $57.29M, now worth $124M) at an average price of $57,793, with an unrealized profit of $66M(+115%).” – Analytics account lookonchain, on X 🧠…
