On the 14th, the leading virtual asset Bitcoin reached an all-time high.
As of 8:15 a.m. on the 14th, Bitcoin recorded $123,393, up 3.45% from 24 hours earlier, according to global virtual asset market tracking site CoinMarketCap.
This surpasses the previous all-time high of $123,200 recorded on the 14th of last month. Bitcoin rose as high as $124,457 at one point on the morning of the 14th.
The surge in Bitcoin is interpreted as being driven by expectations that the Federal Reserve (Fed) will lower its key interest rate next month. The market sees a greater than 90% chance of a 0.25 percentage point rate cut at the upcoming Federal Open Market Committee (FOMC) meeting in September.
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