Bitcoin Climbs to New High Above $124K as Fed Rate-Cut Hopes Build

Key Points

1. Bitcoin surged 3.6% to $124,457, setting a new record, while Ether also advanced to $4,780.04, its highest level since late 2021.

2. Bitcoin has gained nearly 32% in 2025, supported by regulatory wins following President Trump's pro-crypto policies and his self-proclaimed title as the 'crypto president'.

3. Markets are pricing in a Fed rate cut on Sept. 17, with potential for a larger half-point reduction, amid criticism of Fed Chair Jerome Powell for maintaining high rates.

4. Spot Bitcoin ETFs recorded a daily net inflow of $86.91 million, with cumulative net inflows reaching $54.76 billion since launch, and total net assets at $156.69 billion.

5. Institutional interest remains strong, with 3.65 million BTC held by public and private entities, and the U.S. leading with 99 entities holding Bitcoin.

6. Bitcoin market sentiment is in 'Greed' territory at 75 on the Fear & Greed Index, reflecting sustained optimism among traders due to ETF inflows and institutional participation.