Bitcoin surges beyond $120k amid government order validating crypto as retirement asset

Bitcoin hit a record high on Thursday as increasing expectations for easier monetary policy from the Federal Reserve added to tailwinds from recently announced financial reforms. The world’s largest crypto-asset by market capitalisation climbed as much as 0.9% to $124,002.49 in early Asia trading, surpassing its previous peak hit in July. On the day, the second-largest crypto-token, ether, hit $4,780.04, the highest level since late 2021.