Bitcoin Surges to All-Time High Above $124,000 Amid US Policy Shifts and Equity Rally

Bitcoin has reached an unprecedented milestone, crossing the $124,000 mark during early Asian trading on Thursday. The surge, briefly topping $124,500 before a slight pullback, was driven by a combination of favourable US cryptocurrency legislation and a robust performance in US stock markets.

The latest rally pushes Bitcoin beyond its previous July record, underscoring renewed investor confidence. On Wednesday, US equities closed higher, with both the S&P 500 Index and the tech-heavy Nasdaq hitting fresh highs, further fuelling the bullish momentum in the cryptocurrency sector.

A major catalyst behind this rise is recent regulatory changes in the US under President Donald Trump, who has been a vocal advocate for digital assets. According to Samer Hasn, Senior Market Analyst at XS.com, “The crypto market is enjoying a period of highly favourable fundamentals. President Trump has moved to end restrictions that previously prevented banks from engaging with companies flagged for reputational risks—a category in which crypto firms were often unfairly placed.”

Industry analysts suggest Trump may seek to integrate cryptocurrencies more deeply into the US financial system, potentially removing further barriers for crypto adoption. His administration’s openness to blockchain innovation comes as influential companies such as Tesla, led by Elon Musk, and Trump Media & Technology Group continue to purchase large volumes of Bitcoin.

The rally not only reinforces Bitcoin’s role as a leading digital asset but also reflects growing mainstream acceptance of cryptocurrency as a legitimate investment class. As US policy continues to shift in favour of digital finance, many believe this could mark the beginning of a new era for the global crypto market.

For real-time updates and deeper insights into cryptocurrency price movements, visit CoinMarketCap’s Bitcoin tracker.