After weeks of struggling with tariff-related uncertainty, Bitcoin has steadily climbed since May as Sino-US trade tensions ease and the regulatory outlook is “a big deal” and risk sentiment continues to improve. On the other hand, Moody's downgrades the U.S. sovereign debt rating prompted investors to seek alternative investments in the U.S. dollar. With the US "three kills on stocks, bonds and foreign exchanges", risk aversion sentiment heated up, and Bitcoin rose above $110,000, setting a record high again.
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