The cryptocurrency briefly surpassed $124,500 before pulling back slightly.
US stock market gains, including record highs for the S&P 500 and Nasdaq, contributed to Bitcoin’s upward trend.
Trump’s administration has eased restrictions on banks dealing with crypto firms, previously flagged for reputational risks.
“President Donald Trump has moved to end restrictions that previously prevented banks from doing business with companies flagged for reputational risk concerns, a category in which crypto firms were often unfairly placed,“ he said.
The Trump family’s growing involvement in the sector could accelerate further deregulation.
Large institutional investors, known as “whales,“ have also driven recent price gains.
The cryptocurrency’s rally reflects broader optimism in digital asset adoption. - AFP
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