On July 14, Tickmill analyst Patrick Munnelly stated in a report that Bitcoin broke through $120,000 for the first time, with its upward momentum driven by increasing investor confidence after the cryptocurrency emerged from its recent narrow trading range.
He noted that the previous trading range had raised doubts about whether Bitcoin could regain the strong upward momentum seen earlier this year. The uncertainty surrounding Trump's political and economic policies suppressed market enthusiasm for Bitcoin, keeping it within that range.
Now, with other risk assets like US stocks reaching new historical highs, Bitcoin has also resumed its upward trajectory, reigniting market enthusiasm. (Jinshi)
