Bitcoin Hits Record High of $124,000 on U.S. Interest Rate Cut Expectations [Crypto Briefing]

[Financial News] Bitcoin surpassed the $124,000 mark on the 14th, setting a new all-time high. It is interpreted that investor sentiment has improved due to expectations of a U.S. Federal Reserve (Fed) interest rate cut.
According to the global virtual asset information platform CoinMarketCap, Bitcoin once rose to the $124,000 mark on this day, setting a new all-time high, and is trading at the $123,000 mark as of 10 a.m. It is a record one month after hitting a high of $123,200 on the 14th of last month.
Bitcoin is also trading at the 169 million won mark in the won market, breaking the won record high. According to the global virtual asset market comparison platform CryPrice, the Korean premium is -0.84%.
Goldman Sachs predicted on the 13th (local time) that the Fed will cut the base rate three times this year and twice next year. In this case, the final rate is expected to drop from the current 4.25~4.50% to 3~3.25%.
Funds continue to flow into Bitcoin spot exchange-traded funds (ETFs). On the 12th (local time), $66.32 million (91.9 billion won) was net inflowed into the U.S. Bitcoin spot ETF, marking a net inflow for five consecutive trading days.
At the same time, Ethereum is trading at $4,718, up 2.27% from the previous day. XRP (Ripple) is trading at $3.29, up 1.54% from the previous day.
yimsh0214@fnnews.com Sanghyuk Lim Reporter