Bitcoin hits a new record high and soars ahead of possible rate cut

The queen of cryptocurrencies, bitcoin, reached a new high this Thursday morning, surpassing $124,000 before falling back below $122,000. "Macroeconomic conditions remain stable and favorable: U.S. stocks are at record highs and markets are pricing in a likely interest rate cut by the Federal Reserve in September, both of which are strong tailwinds for risk…