Bitcoin surged to a new all-time high exceeding $116,500 on Thursday, driven by converging macroeconomic catalysts including Federal Reserve interest rate cuts, passage of a major tax expenditure bill, and diminished global trade tensions. This milestone represents a near 20% year-to-date gain for the cryptocurrency.
Adam Guren, Chief Investment Officer at Hunting Hill, emphasized the rally stems from a synergistic macroeconomic environment combined with expanding M2 money supply. Current market conditions show most Bitcoin holders in profitable positions, lending stability amid potential short-term profit-taking pressure.
Experts project Bitcoin could reach $150,000-$200,000 by year-end should current tailwinds persist, especially sustained growth in M2 liquidity. This forecast hinges on continued institutional adoption and favorable policy landscapes.