Bitcoin Soars Amid Federal Reserve Rate Cut Speculation

The U.S. dollar found itself under pressure as investor sentiment leaned towards the Federal Reserve resuming interest rate cuts, buoying Bitcoin to unprecedented heights.

Globally, stock indices took inspiration from Wall Street's peaks, with the MSCI All Country World Index maintaining record highs. Additionally, the Japanese yen showed strength following U.S. economic forecasts.

Bitcoin rallied past previous records, spurred by easing policies in the U.S. and financial sector reforms. Commodities like oil and gold also experienced slight upticks amidst geopolitical concerns tied to U.S.-Russia relations.

(With inputs from agencies.)