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Bitcoin surged to a record high of over $111,000 on Thursday, driven by positive momentum, optimism surrounding US crypto regulation, and institutional investment. This rise contrasts with a drop in US stock markets, suggesting investors may be seeking alternative assets. Factors contributing to the rally include Moody's US credit rating downgrade and the potential for increased crypto regulation. Even JPMorgan, previously critical of Bitcoin, is now allowing clients to buy it.

Prepared by Christopher Adams and reviewed by editorial team.