New Delhi, Aug. 14 -- The world's largest crypto asset, Bitcoin, reached a record high on Thursday as rising expectations for easier monetary policy from the Federal Reserve, along with support from recently announced financial reforms, contributed to the momentum.

On Thursday, Bitcoin increased by up to 0.9%, reaching $124,002.49 in early Asian trading, exceeding its previous peak in July. The second-largest crypto token, ether, climbed to $4,780.04, the highest level since late 2021, according to a report by Reuters.

Bitcoin's rally is driven by growing confidence in Fed rate cuts, ongoing institutional investments, and efforts by the Trump administration to facilitate crypto investments assets, the report said citing IG market analys...