Bitcoin soars past 123,500, setting a new historical high! The resonance with U.S. stocks highlights a warming risk appetite
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The price of Bitcoin broke through $123,500 on Wednesday, setting a new historical high, in sync with the rise of U.S. stocks, indicating an increase in global investors' risk appetite. The S&P 500 index also closed at a historical high for two consecutive days, reflecting the market's optimistic sentiment. Analysts point out that cryptocurrencies are positively correlated with the stock market, especially Ethereum, which has a stronger correlation with the stock market. The market's expectations for a rate cut by the Federal Reserve have increased, driving funds towards more volatile digital assets
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