Bitcoin Touches $111K for the First Time — Here’s What’s Pushing It Up
Bitcoin made a new record on Thursday by crossing $111,000 for the first time ever. It went up more than 4% from its earlier high of $109,800, and touched $111,544 during early Asian market hours.
This jump came after investors got worried about the U.S. government’s rising debt. A recent sale of $16 billion in 20-year U.S. bonds got weak response. Because of that, bond yields went above 5.1%, making people nervous about keeping money in government bonds.
So, many investors are now choosing Bitcoin as a safer place to put their money. There’s also more interest from big institutions, and crypto rules are getting clearer, which is making people feel more confident in buying Bitcoin.
At the time of writing, Bitcoin is trading around $110,990, with the day’s low near $106,178 and the high at $111,547.
Impact: Bitcoin might keep rising if people stay worried about US debt and bonds. More investors could choose Bitcoin as a safe place to park their money.