The cryptocurrency's price action coincided with a surge in shares of AI giant Nvidia, pushing the company's market capitalization to $4 trillion, highlighting the close relationship between the cryptocurrency market and tech stocks.
Previously, the Nasdaq Composite technology index set a new record in the session on July 9, and the S&P 500 index is also on track to conquer the same milestone on July 10.
Nic Puckrin, a cryptocurrency analyst and founder of Coin Bureau, said bitcoin has always had a high correlation with tech stocks, and that correlation is still holding.
The coin has gained about 21% year-to-date, helped by crypto-friendly policies from the Trump administration, including the creation of a strategic bitcoin reserve and a larger digital asset reserve.
For the past two months, bitcoin has traded in a tight range around $10,000, an unusually stable period given its volatile history.
Puckrin said bitcoin could hit $115,000. The breakout also comes just days before the U.S. Congress kicks off its much-anticipated “Crypto Week” on July 14. Lawmakers will debate a series of bills that could shape the regulatory framework for the entire industry./.
According to VNA
Source: https://baothanhhoa.vn/bitcoin-tiep-tuc-da-tang-toc-pha-vo-moc-113-000-usd-254588.htm
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