TOKYO (Reuters) -Bitcoin hit a record high on Thursday as increasing expectations for easier monetary policy from the Federal Reserve added to tailwinds from recently announced financial reforms.

The world’s largest crypto-asset by market capitalisation climbed as much as 0.9% to $124,002.49 in early Asia trading, surpassing its previous peak hit in July. On the day, the second largest crypto-token ether hit $4,780.04, the highest level since late 2021.

Bitcoin’s rally is being powered by increasing certainty of Fed rate cuts, sustained institutional buying and moves by the Trump administration to ease investment in crypto assets, said IG market analyst Tony Sycamore.

“Technically a sustained break above $125k could propel BTC to $150,000,” he wrote in a note.

Bitcoin has risen nearly

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