Bitcoin Breaks $124K as Ethereum Nears 2021 High Amid Market Rally
Main Idea
Bitcoin and Ethereum experienced significant price surges, with Bitcoin surpassing $124K and Ethereum nearing its 2021 all-time high, amid a broader crypto market rally.
Key Points
1. Bitcoin surged past $124,000 before retracting slightly to $121.5K, maintaining a weekly increase of 5.6%.
2. Ethereum reached $4,786, close to its 2021 all-time high of $4,868.
3. Market liquidations remained low at $450 million, mostly from short positions on Bitcoin and Ethereum.
4. The Fear and Greed Index rose by eight points in 24 hours, indicating increased trader optimism.
5. Positive U.S. regulatory developments and capital inflows into Bitcoin and Ethereum ETFs were cited as factors driving the rally.
Description
Bitcoin surpassed $124K, then retraced to $121.5K with 5.6% weekly gains. Ethereum reached $4,786, close to its 2021 all-time high of $4,868. Market liquidations remain low at $450M; Fear and Greed Index rises 8 points. On the night of August 14, 2025, Bitcoin surged past the $124,000 level, reaching a new all-time high as favorable macroeconomic conditions boosted high-risk assets. At the time of writing, Bitcoin’s price slightly pulled back below $118,500, maintaining a weekly increase of 3.6%...
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