Why is Bitcoin near all-time highs? Everything that happened in crypto today
Bitcoin (BTC) traded at $120,367.71 as of press time, near its all-time high of $124,000, driven by expectations of a rate cut and a market structure reset.
Softer US labor signals and a live government shutdown have traders leaning heavily toward another Fed cut this month, lifting risk assets across the board.
At the same time, positioning in crypto has been “cleaned up” after the quarter-end options expiry, with flows and on-chain metrics shifting from defensive to neutral-constructive.
Bitcoin is up approximately 1.5% in the past 24 hours, after briefly reaching $121,000 on futures before slipping back.
Ethereum climbed to $4,477.52, a 3% increase on the daily timeframe, followed by BNB, which surged to $1,084.87 after a 5.7%…
