Bitcoin recently achieved a new all-time high, surpassing the record set earlier this year. According to Coin Metrics, the cryptocurrency rose by 2%, reaching $108,955.10, with an intraday peak of $109,500.
Several macroeconomic factors contributed to Bitcoin's (BTC, Financial) surge. These include easing U.S. inflation data, a de-escalation in international trade tensions, and Moody's downgrade of the U.S. sovereign credit rating. These developments have renewed market interest in alternative value storage assets like Bitcoin.
