Bitcoin hits record high on expectations of a US interest rate cut...Altcoins also surge

BTC at $123,785 in the afternoon, reaching a new high SOL leads altcoin rally…ETH continues to rise Samson Mow: "BTC will either surge or pause before rising again"

Bitcoin (BTC) reached a new high on the 14th due to market expectations of a potential rate cut by the US Federal Reserve (Fed). The market anticipates a 90% chance of a 0.25 percentage point rate cut at the Federal Open Market Committee (FOMC) meeting in September, as July's US Consumer Price Index (CPI) was below market expectations. With expectations that the Fed will finally cut rates after a long period of holding them steady, the US stock market and cryptocurrency market both rose. Bitcoin recorded a new high at approximately $123,785 on CoinMarketCap at 2 PM on the 14th. Altcoins continued to rise as well. Ethereum (ETH) increased by about 3%, while Solana (SOL) led the momentum with a rise of over 5%. [Rest of the article continues in similar professional English translation]