Bitcoin surges past $124,000 amid US regulatory shifts
The cryptocurrency briefly surpassed $124,500 before pulling back slightly.
This surge follows a previous peak set in July, signalling renewed bullish momentum.
US stock market gains, including record highs for the S&P 500 and Nasdaq, contributed to Bitcoin's upward trend.
Recent US regulatory changes under President Donald Trump have further fuelled the rally.
Trump's administration has eased restrictions on banks dealing with crypto firms, previously flagged for reputational risks.
Samer Hasn, senior market analyst at XS.com, noted the favourable conditions for the crypto market.
'President Donald Trump has moved to end restrictions that previously prevented banks from doing business with companies flagged for reputational risk concerns, a category in which crypto firms were often unfairly placed,' he said.
Hasn added that Trump may push for deeper crypto integration into the financial system.
The Trump family's growing involvement in the sector could accelerate further deregulation.
Major corporations, including Trump's media group and Elon Musk's Tesla, are increasing their Bitcoin holdings.
Large institutional investors, known as 'whales,' have also driven recent price gains.
The cryptocurrency's rally reflects broader optimism in digital asset adoption. - AFP
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
2 hours ago
- Barnama
Putin-Trump One-On-One Meeting To Begin Friday: Russian Presidential Aide
US President Donald Trump and Russia's President Vladimir Putin talk during the family photo session at the APEC Summit in Da Nang, Vietnam November 11, 2017. REUTERS/Jorge Silva/File Photo MOSCOW, Aug 14 (Bernama-Anadolu) -- A meeting between Russian President Vladimir Putin and US President Donald Trump will begin at 11.30 am local time in the US state of Alaska on Friday with a one-on-one conversation accompanied by interpreters, Russian presidential aide Yury Ushakov said. The meeting will be held at "one of the facilities" of Elmendorf-Richardson Air Force Base in Anchorage, Alaska, Anadolu Ajansi reported Ushakov told reporters in Moscow on Thursday. "It will all begin tomorrow, August 15, at approximately 11.30 local time, with a conversation between Vladimir Vladimirovich Putin and Donald Trump. This meeting will be held one-on-one, with interpreters present. Then negotiations will take place as part of the delegations, which will continue over a working breakfast," he said. bootstrap slideshow Negotiations between Putin and Trump will take place on an equal basis, with five members from each side, said Ushakov. The Russian delegation includes foreign, defense, and finance ministers, as well as the head of the Russian Direct Investment Fund. He said the members of the Russian delegation included "Foreign Minister Sergey Lavrov, presidential advisor on foreign policy Yury Ushakov, Defense Minister Andrey Belousov, Finance Minister Anton Siluanov, and presidential envoy for investment and economic cooperation with foreign countries Kirill Dmitriev." Ushakov explained that the number of participants is limited due to "the sensitive nature of the discussions." The composition of the US delegation has also been determined, but Ushakov said that he believes it would be more appropriate if Washington announced it. "Thus, aside from the presidents, there will be five additional participants per delegation. Naturally, nearby will also be a group of experts ready to assist," he noted.
Barnama
2 hours ago
- Barnama
Major Stock Market Indices Worldwide
BEIJING, Aug 14 (Bernama-Xinhua) -- The following are the indices of major stock markets worldwide on Thursday, reported Xinhua. The Nasdaq Composite Index opened at 21,649.21 points, down 63.93 points, or 0.29 per cent. The Dow Jones Industrial Average opened at 44,890.84 points, down 31.43 points, or 0.07 per cent. The S&P 500 Index opened at 6,453.46 points, down 13.12 points, or 0.20 per cent. The DAX Index opened at 24,205.59 points, up 20.00 points, or 0.08 per cent. The FTSE 100 Index opened at 9,165.23 points, up 0.00 points, or 0.00 per cent. The Paris CAC 40 opened at 7,822.95 points, up 17.98 points, or 0.23 per cent. Asia (Thursday) The Shanghai Composite Index closed at 3,666.44 points, down 17.02 points, or 0.46 per cent. The Shenzhen Component Index closed at 11,451.43 points, down 99.93 points, or 0.87 per cent. The Hang Seng Index closed at 25,519.32 points, down 94.35 points, or 0.37 per cent. The S&P/ASX 200 index closed at 8,873.80 points, up 46.70 points, or 0.53 per cent. The 225-issue Nikkei Stock Average closed at 42,649.26 points, down 625.41 points, or 1.45 per cent. The Straits Times Index closed at 4,256.52 points, down 16.24 points, or 0.38 per cent. The Korea Composite Stock Price Index closed at 3,225.66 points, up 1.29 points, or 0.04 per cent. --BERNAMA-XINHUA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
The Star
4 hours ago
- The Star
India wants US ties based on mutual respect, says its arms purchases are on course
FILE PHOTO: U.S. President Donald Trump and Indian Prime Minister Narendra Modi shake hands as they attend a joint press conference at the White House in Washington, D.C., U.S., February 13, 2025. REUTERS/Kevin Lamarque/File Photo NEW DELHI (Reuters) -India said on Thursday that it hoped relations with the United States would move forward based on mutual respect and shared interests, seeking to temper worries that ties were headed downhill in the aftermath of high tariffs imposed by Washington. A U.S. defence policy team will be in New Delhi this month for talks with Indian officials and its arms purchases from the U.S. are on course despite the strain in ties, the Indian foreign ministry said. A new friendship built between the two countries has hit a rough patch after President Donald Trump raised tariffs on Indian goods to 50% last week from an earlier 25% saying it was a penalty for India's continued imports of Russian oil. New Delhi has accused the U.S. of double standards in singling it out for Russian oil imports and called the tariffs unfair, unjustified and unreasonable. At the same time, it has also indicated that the warming of ties that began at the turn of the century covers a wide range of areas and should not be seen only through the prism of trade, although it hopes that trade talks will continue and result in a deal. "This partnership has weathered several transitions and we hope that the relationship will continue to move forward based on mutual respect and shared interests," Indian foreign ministry spokesperson Randhir Jaiswal told a regular media briefing. Purchases of military equipment from Washington were on course, Jaiswal said, adding that a U.S. defence policy team was expected in Delhi this month. Reuters reported last week that India has put on hold its plans to procure new U.S. weapons and aircraft and that a planned trip to Washington by the Indian defence minister had been cancelled. The Indian government subsequently said reports of a pause in the talks were wrong. (Reporting by Shivam Patel and Tanvi Mehta; Writing by YP Rajesh, Editing by William Maclean, Alexandra Hudson)
