According to @GracyBitget, Bitcoin surged to a new all-time high of $124,000, with its market capitalization surpassing Google and Amazon to become the fifth-largest asset globally (source: @GracyBitget). The S&P 500 and Nasdaq have also been closing at record highs for multiple sessions, signaling a broad-based risk-on rally across markets (source: @GracyBitget). The move is attributed to rising expectations of interest rate cuts, which historically support liquidity-sensitive assets like BTC and high-beta crypto sectors from a trading perspective (source: @GracyBitget). Traders may favor momentum-continuation setups in BTC and monitor equity-crypto correlation strength as long as rate-cut expectations remain elevated, aligning positioning with the source’s risk-on backdrop (source: @GracyBitget).