Bitcoin Hits Historic High of $123,231 Amid Economic Optimism and Record Market Caps

Bitcoin reached a new all-time high of over $123,231, tracking a surge in the S&P 500 index. This record came amid stable US inflation data, potentially leading to an interest rate cut by the Federal Reserve. Investors believe that such economic actions traditionally benefit Bitcoin's price. Inflows to Bitcoin and Ether ETFs, along with liquidation data, indicate a positive sentiment in the market. Bitcoin's market cap now exceeds $2.45 trillion, with the total crypto market cap at a record $4.15 trillion. Traders are eyeing potential liquidations above $125K for Bitcoin.

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