The leading cryptocurrency Bitcoin set a new all-time high for the first time in about a month and a half. This is interpreted as a result of the tech stock rally led by artificial intelligence (AI) leader Nvidia, which revived investor sentiment toward risk assets.
On the 9th (local time), according to CNBC, the price of Bitcoin surged to $112,052.24 just before 4 p.m.
This is the first time Bitcoin has exceeded $112,000.
It surpassed the previous all-time high of $111,999 recorded on May 22, after about a month and a half.
The rise in Bitcoin that day coincided with the tech stock rally in the U.S. stock market. Nvidia briefly exceeded a market capitalization of $4 trillion during trading. The tech-focused Nasdaq Composite Index closed at an all-time high. This aligns with investors digesting negative news such as the Trump administration's announcement of additional tariffs and returning to a preference for risk assets.
Recently, Bitcoin has experienced fluctuations within a narrow range despite billions of dollars flowing in through spot exchange-traded funds (ETFs). However, in the second quarter, the scale of Bitcoin purchases by listed companies surpassed the inflow of ETF funds, demonstrating steady demand from institutions that supported the price.
Experts generally expect the bullish trend to continue but maintained a cautious stance.
Vincent Liu, Chief Investment Officer (CIO) of cryptocurrency investment firm Kronos Research, noted that "the current trend is a solid bull market," but added that "profit-taking or macroeconomic changes could trigger corrections, so we must remain vigilant."
On the other hand, Ryan Gorman, Chief Strategy Officer (CSO) of Uranium Digital, predicted that "due to bullish sentiment and thin transaction volume, prices could soar above $120,000 by the end of next week."