The price of Bitcoin once again broke historical highs during the New York trading session on Wednesday, continuing the strong rise since the summer of this year. Market data shows that Bitcoin surpassed $123,500, exceeding the previous high set in mid-July, and briefly reached $124,000 during the Asian session on Thursday.

This breakthrough coincides with the S&P 500 Index setting new highs for two consecutive trading days, reflecting investors' preference for risk assets. It is worth noting that Bitcoin's recent rise has pushed its total market capitalization to an astonishing $2.45 trillion, surpassing Google and ranking fifth in the global asset market capitalization list, only behind gold, Nvidia, Microsoft, and Apple.

Over the past year, the price of Bitcoin has steadily risen, partly due to the gradually clarifying regulatory environment for cryptocurrencies in the United States. Several publicly listed companies have continued to increase their Bitcoin holdings, which has strongly driven the demand growth for this largest global cryptocurrency. This trend of corporate holdings has recently expanded to other crypto assets like Ethereum, leading to a widespread increase in the entire digital currency market.

The synchronized rise of US stocks and Bitcoin reflects that the speculative market and traditional financial markets are sharing positive sentiment. The latest US inflation data was largely in line with expectations, reinforcing the market's anticipation that the Federal Reserve may cut interest rates in September. This expectation has prompted funds to flow from blue-chip stocks to more volatile digital assets.

Cryptocurrency research experts point out that the uniqueness of this round of rise lies in the significant maturity of the demand foundation. Unlike previous rallies primarily driven by retail investors, this time there is greater participation from institutional investors, corporations, and sovereign wealth funds, injecting structural buying power into the market.

As the connection between cryptocurrencies and traditional financial markets becomes increasingly close, investors need to consider the interactions between various assets more comprehensively. Although current market sentiment is optimistic, caution should still be exercised regarding potential fluctuations, maintaining a rational investment attitude.