Bitcoin rises to all times peak as Crypto sentiment improves

By Samuel Indyk, Alun John, Gertrude Chavez-Dreyfuss London/New York (Reuters) -Bitcoin rose to its highest level on Wednesday and darkened the previous high from January, as the risk sentiment continues to improve after the tariff-induced sale of last month. The world’s largest cryptocurrency touched a high of $ 109,760.08 and was 1.1% higher at $ 108.117. Its increase was powered by a combination of factors, including the relief of trade tensions between the United States and China and Moody’s downgrading of US sovereign debt, which urged investors to seek alternative investment sources to the dollar. “Now that the highlight of January has been exceeded -and the 50 percent of April’s lows have been reached -Bitcoin is entering Blue Sky area with tail winds in the form of institutional momentum and a favorable US regulatory environment,” said Antoni Trenchev, founder of the digital asset trading platform Nexo. Bitcoin sometimes trades similarly to technical stocks and other assets that rise in value when investor sentiment is large. The technical heavy Nasdaq is up 30% from the early April low. It also coincided with ongoing weakness in the dollar, a further boost for Bitcoin’s exchange rate against the US currency. Crypto market participants often point to increased involvement of traditional financial firms as reasons for its profits. This week they referred to JPMie Dimon, CEO of JPMorgan, a long -standing skeptic from Crypto, who said the bank would make customers buy Bitcoin. Earlier this month, Crypto Exchange Coinbase was added to the S&P 500 index. Coinbase said on Monday that the US Department of Justice opened an investigation into a recent data violation at the company. “We are still in year four of the Bitcoin price cycle -the year after the Bitcoin halving when the rewards of the miner are cut in half -which historically means his best days are still ahead, and while macro security and the threat of further volatility have a target of $ 150,000 in 2025. Cryptocurrency, surprisingly not in tandem with Bitcoin.