Bitcoin Hits Record High Above $112,000 Amid Nvidia-Led Tech Rally 

It’s no news that Bitcoin has surpassed an all-time high in recent days and is still on the rise. This information, in itself, has sparked what can only be described as utter delight among crypto investors who can afford to smile as they watch their stock rise. 

It surged past the $112,000 mark on July 9th as the world’s biggest crypto asset reached an all-time high, and it wasn’t a coincidence. This particular surge is proudly sponsored by a broader tech upswing led by Nvidia, with Bitcoin once again showing why it’s one of the most dominant high-yield assets. 

Here, let’s take a look at the reason for this incredible run and the pivotal part that Nvidia’s tech rally is playing. 

Bitcoin at an All-time High

Again, the current Bitcoin bull cycle has not been subtle by any means. But was it expected? Well, certainly. Especially since it was already predicted to happen in the second half of the year. However, investors didn’t have to wait for the long-awaited rise, as the cryptocurrency broke through a resistance that has seen it hover around the $100,000 mark in recent weeks. 

But why the sudden breakthrough? You see, owing to months of strong gains mainly due to millions of dollars injected into spot Bitcoin ETFs and a rising trend of various institutional adoption, BTC finally surpassed its previous record of $111,999 recorded on May 22. 

Following this record-breaking feat, the currency was then predicted to climb even higher, and recent price changes have backed up this sentiment. According to Global Market Insights Director at Hashdex, Gerry O’Shea, “Although the macro environment remains uncertain, we believe the bull market is far from over”. 

Nvidia’s Role in the Rally 

Nvidia is massively credited for being the face of the recent tech rally that is stimulating the crypto market. The giant tech company helped to boost investors’ trust in the market when its own stock took off earlier, thanks to an unprecedented rise in demand for AI chips. 

According to CNBC, “Nvidia has made history as the first company to reach a $4 trillion market capitalisation value, thereby building excitement around digital and high-growth assets”. 

What Does this Mean for the General Tech Market? 

Nvidia is not the only tech giant enjoying this massive surge, and Bitcoin isn’t the only cryptocurrency riding the wave, either. The general tech market is on what seems to be the most incredible bull run in a while, and we can already witness the effect, with big players like Apple, Meta, and Microsoft all headlining the gain rush.

Online casinos aren’t being left behind either, with top platforms seeing an influx of players willing to make bets and win more cryptocurrencies. The Slotsjudge team has noticed this new trend and as such provided an in-depth review that covers top online slot platforms that offer cryptocurrency payment options. 

So, what are the other key trends we can expect in the tech world with this surge? 

• Influx of new investors
• A growth in crypto payments
• Growth in AI and Chips’ stocks
• Diversified tech exposure 

What’s Next for Bitcoin? 

Well, with Bitcoin already threatening to surpass expectations, everybody’s looking to see what will happen next. While some warn of imminent short-term pullbacks, others are predicting a further push towards $130,000 if the current momentum persists.

Standard Chartered’s head of digital assets has even come out to say, “I apologise, but my initial USD120k Q2 target might be too low,” and that just further amplifies the promise the market is showing. But then, with the crypto market, we can never tell for sure, and a big swing up or down can always occur at any time.