比特币飙破12.35万创历史新高！与美股共振凸显风险偏好升温

Core Insights - Bitcoin price reached a historic high of $123,500, surpassing the previous peak of $123,200 set on July 14, indicating a strong risk appetite among global investors [1] - The S&P 500 index also hit a record high, reflecting a broader bullish sentiment in the market, with the index continuing its summer rally [1] - The rise in Bitcoin's price is attributed to a favorable legislative environment in the U.S. since President Donald Trump's administration, along with companies like MicroStrategy adopting a strategy of accumulating Bitcoin [1] Group 1 - The correlation between cryptocurrency and stock markets is evident, with Ethereum showing a stronger correlation to the stock market than Bitcoin [1] - Recent U.S. inflation data met expectations, strengthening market bets on a potential interest rate cut by the Federal Reserve in September, which could shift funds from blue-chip stocks to more volatile digital tokens [1] - The demand for Ethereum has been driven by active treasury management companies, while Bitcoin's rise is supported by continued inflows into exchange-traded funds (ETFs) despite facing technical resistance [1] Group 2 - Factors such as slowing inflation, rising expectations for interest rate cuts, and unprecedented institutional participation through ETFs have created a strong bullish environment for cryptocurrencies [2] - The current price surge is characterized by a mature demand base, indicating that the buying activity is not solely driven by retail investors but also includes structural purchases from asset management firms, corporations, and sovereign funds [2]