Bitcoin Breaks $123K as Momentum Builds
Main Idea
Bitcoin surpassed $123,000 for the first time since July 2025, driven by ETF inflows and corporate treasury acquisitions, solidifying its position as a legitimate institutional asset.
Key Points
1. Bitcoin's price rose 2.6% against the U.S. dollar on Aug. 13, reaching $123,000, with a 6.2% gain over the past seven days.
2. The cryptocurrency's market valuation reached $2.44 trillion, fueled by ETF inflows and corporate treasury acquisitions.
3. Bitcoin-based derivatives contracts recorded $88.50 million in liquidations on Wednesday, with $73.55 million from short traders.
4. At 6 p.m. ET, Bitcoin was trading at $122,606 per coin.
Description
Bitcoin blasted past the $123,000 mark on Wednesday, breaking that barrier for the first time since July 14, 2025. On Aug. 13, bitcoin’s climb added 2.6% against the U.S. dollar, stacking up a 6.2% gain over the past seven days. The world’s largest crypto by market value now boasts a staggering $2.44 trillion valuation. This
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