Bitcoin hits record high. Why the crypto’s rally may lose steam after briefly topping $112,000.

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ETResizeListen(2 min)Bitcoin hit a new high Wednesday for the first time since May 22

However, the rally may stall if trade tensions intensify, according to some analysts

The largest cryptocurrency BTCUSD reached a lofty $112,022 Wednesday afternoon, a new record high, before pulling back to $111,199, according to FactSet data

The Author Frances YueFrances Yue covers the cryptocurrency market for MarketWatch

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