{"id":606686,"date":"2025-08-14T08:21:15","date_gmt":"2025-08-14T06:21:15","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=606686"},"modified":"2025-08-14T08:23:55","modified_gmt":"2025-08-14T06:23:55","slug":"bitcoin-hits-new-high","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/606686-bitcoin-hits-new-high.html","title":{"rendered":"Bitcoin hits new high"},"content":{"rendered":"\n

Bitcoin hit a record high Wednesday, moving in lockstep with a rally in US equities as investors pushed deeper into risk-taking territory across world markets.<\/p>\n\n\n\n

The cryptocurrency rose past $123,500 on Wednesday evening in New York, topping the previous all-time high of $123,205.12 reached on July 14.<\/p>\n\n\n\n

In South Africa, it hit R2.2 million on cryptocurrency exchange Binance, failing to beat its previous high<\/a> due to a weaker U.S. dollar.<\/p>\n\n\n\n

The original crypto token was trading at $124,000 in Singapore at 8:38 a.m. Thursday. The milestone came soon after the S&P 500 closed at its own record for a second consecutive session, extending a summer run that has carried the benchmark to repeated highs.<\/p>\n\n\n\n

Bitcoin has been steadily rising for most of the past year as a result of the friendly legislative climate in Washington ushered in by President Donald Trump.<\/p>\n\n\n\n

Public companies, led by Michael Saylor\u2019s Strategy, have boosted the demand by following an increasingly popular corporate tactic of stockpiling the original cryptocurrency.<\/p>\n\n\n\n

The playbook has recently spread to smaller competitors, like Ether, leading to a broad rise across digital assets.\u00a0<\/p>\n\n\n\n

Bitcoin\u2019s market cap rose to around $2.5 trillion and Ether\u2019s to nearly $575 billion, with both tokens holding about 70% of all crypto traded, according to CoinGecko.<\/p>\n\n\n\n

The coordinated move underscores how speculative market corners and mainstream benchmarks are drawing from the same well of optimism.<\/p>\n\n\n\n

US inflation data landed in line with expectations this week \u2014 and strengthened bets the Federal Reserve will cut interest rates in September, easing financial conditions and encouraging capital to flow from blue-chip equities to volatile digital tokens.<\/p>\n\n\n\n

\u201cCrypto has been positively correlated to equities with the relationship stronger for ETH than BTC,\u201d said Chris Newhouse, director of research at Ergonia. \u201cGeneral sentiment looks positive.\u201d <\/p>\n\n\n\n

Ether\u2019s rise has been propelled by sustained demand from newly active treasury firms, while Bitcoin\u2019s steadier climb has leaned on persistent exchange-traded inflows even as it has faced technical resistance.<\/p>\n\n\n\n

\u201cThe combination of moderating inflation, growing expectations for rate cuts, and unprecedented institutional participation through ETFs has created a powerful tailwind,\u201d said Ben Kurland, CEO at crypto research platform DYOR.<\/p>\n\n\n\n

\u201cWhat\u2019s different this time is the maturity of the demand base \u2014 this rally isn\u2019t just retail euphoria, it\u2019s structural buying from asset managers, corporates and sovereigns.\u201d<\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

Bitcoin hit a record high Wednesday, moving in lockstep with a rally in US equities as investors pushed deeper into risk-taking territory across world markets.<\/p>\n","protected":false},"author":341034,"featured_media":606687,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[49375,187,69663],"class_list":["post-606686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-binance","tag-bitcoin","tag-coingecko"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/606686"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=606686"}],"version-history":[{"count":2,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/606686\/revisions"}],"predecessor-version":[{"id":606692,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/606686\/revisions\/606692"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/606687"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=606686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=606686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=606686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}