Bitcoin retreats to $118,000 after notching new all-time high: CNBC Crypto World

Market Trends & Cryptocurrency Performance - Bitcoin initially surged following a cooler-than-expected July inflation report, reaching a new all-time high above $124,000, but experienced a pullback due to hotter-than-expected wholesale inflation data [2][3][6] - As of noon Eastern, Bitcoin was trading at $118,300, while Ether slid nearly 1% after approaching its 2021 record of $4,866 [2] - An expert predicts Bitcoin will reach over $150,000 by year-end and $500,000 by the end of the decade, with Ether posting similar gains [8] Regulatory Landscape & Institutional Adoption - The Genius Act, the first crypto legislation, focuses on stable coins and is expected to drive engagement from banks, credit card companies, insurance companies, and Fortune 500 companies [10][13][14] - Walmart and Amazon are reportedly planning to launch their own stable coins [14] - The Clarity Act, aimed at defining the roles of the SEC and CFCC in overseeing digital assets, is expected to pass within 60 days, providing further clarity for traditional finance and Fortune 500 companies [21][22] Stablecoins & US Dollar Impact - Increased stable coin adoption, particularly on the Ethereum blockchain, is seen as a bullish signal for Ethereum, with an expected 8x increase in stable coin ownership of US currency over the next several years [12] - Stable coins strengthen the US dollar by converting other currencies into dollars and investing in US treasuries, benefiting the American economy and federal fiscal policy [18][20] Investment Strategy & Market Outlook - An expert suggests that the current administration's support, favorable legislation, and institutional engagement make it safer to invest in crypto, recommending allocations of 10% for conservative, 25% for moderate, and 40% for aggressive long-term investors [26][28] - The anticipated influx of hundreds of billions, potentially trillions, of dollars into Bitcoin and other digital assets is expected to drive significant price increases [24]