Bitcoin hits record high as dollar weakens
The US dollar slipped against the euro and pound this week, with markets betting on a possible Federal Reserve rate cut in September.
Dovish signals from Fed officials and signs of a cooling job market fueled the move.
Meanwhile, Bitcoin soared to an all-time high of $123,674, thanks to hopes for easier US monetary policy and more big investors jumping into crypto.
Bitcoin could reach $150,000 mark
The dollar index dipped to 97.7, while the euro and pound hit their highest levels in weeks. The yen also gained ground as traders braced for a weaker dollar ahead.
On the crypto side, new rules letting people add Bitcoin to retirement accounts gave prices another boost.
Analyst Tony Sycamore noted that "technically, a sustained break above $125,000 could propel bitcoin to $150,000"—so there might be more excitement ahead for crypto fans.