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Bitcoin surged to a record on Thursday, fueled by growing expectations of a September Federal Reserve interest rate cut and increased corporate buying. The world\u2019s largest cryptocurrency briefly touched $124,436.8 before easing slightly to $123,164.1, up 3.2% by 00:47 ET (04:47 GMT).<\/p>\n\n\n\n
Corporate Interest and Rate Cut Optimism Drive Bitcoin<\/strong> Corporate adoption of Bitcoin treasury strategies, popularized by Michael Saylor\u2019s MicroStrategy Incorporated (NASDAQ:MSTR, now Strategy), has added further momentum. Metaplanet Inc, ranked the sixth-largest corporate Bitcoin holder globally, disclosed a $60 million Bitcoin purchase this week and is raising billions in capital for additional acquisitions. Strategy itself also reported a major purchase earlier in August, bringing total holdings to 628,946 coins.<\/p>\n\n\n\n Investor sentiment was further bolstered by the strong NYSE debut of Peter Thiel-backed crypto exchange Bullish Inc (NYSE:BLSH), whose shares jumped nearly 90% from their IPO price, valuing the company at over $10 billion.<\/p>\n\n\n\n Ether Near Record Levels, Altcoins Surge<\/strong> Other major altcoins saw strong gains this week. XRP rose 2.6% to $3.3038, Solana climbed 6.5%, and Cardano surged 19.5%, supported by Grayscale Investments\u2019 plans for a spot Cardano ETF. Among memecoins, Dogecoin gained 6.8%, while $TRUMP added 7.1%.<\/p>\n\n\n\n Overall, cryptocurrencies are benefiting from a combination of anticipated monetary easing, expanding corporate adoption, and renewed investor appetite for risk.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin surged to a record on Thursday, fueled by growing expectations of a September Federal Reserve interest rate cut and increased corporate buying. The world\u2019s largest cryptocurrency briefly touched $124,436.8 before easing slightly to $123,164.1, up 3.2% by 00:47 ET (04:47 GMT). Corporate Interest and Rate Cut Optimism Drive BitcoinBitcoin\u2019s recent rally has been supported …<\/p>\n","protected":false},"author":9,"featured_media":98174,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,6827,49,36],"tags":[],"class_list":["post-117713","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=117713"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117713\/revisions"}],"predecessor-version":[{"id":117714,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117713\/revisions\/117714"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/98174"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=117713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=117713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=117713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Bitcoin\u2019s recent rally has been supported by both mild U.S. inflation data and corporate demand. Markets currently price in a nearly 97% probability of a 25-basis-point Fed rate cut in September, according to CME FedWatch. Lower rates typically free up liquidity, encouraging investment in speculative assets such as cryptocurrencies.<\/p>\n\n\n\n
Ether, the world\u2019s second-largest cryptocurrency, also advanced, trading just under $100 from its November 2021 record high of $4,868.8. Ether gained nearly 4% to $4,786.54, driven by corporate buying mirroring Bitcoin strategies. Standard Chartered raised its 2025 price target for Ether from $4,000 to $7,500 in response to these trends.<\/p>\n\n\n\n