Bitcoin hit a high of $124,517, then fell to $123,000, due to demand from institutional investors and expectations of lower interest rates.

The price of bitcoin rose recently, reaching $124,517 on the Bitstamp exchange, before falling slightly to $123,000. This volatility is fueled by increased demand from institutional investors and optimism in financial markets following the global stock market advance. Analysts anticipate an interest rate cut by the US Federal Reserve, which could further boost demand for cryptocurrencies. Bitcoin dominates the digital asset market, with a market capitalization of about $2.5 trillion, contributing to the total market valuation of nearly $4.2 trillion. Since the start of the year, bitcoin is up 32%.