Bitcoin Tops $124K in New Peak as Crypto Market Cap Hits ATH

Key Points

1. Bitcoin hit a new peak of $124,130, gaining 3.4% on the day and nearly 8% over the past week.

2. The rally was partly driven by easing global trade tariff tensions and high US CPI, increasing the likelihood of a September rate cut.

3. Bitcoin's market capitalization reached $2.46 trillion, surpassing Google (Alphabet).

4. Analyst 'Rekt Capital' identified $126,000 as a pivotal price point for future gains.

5. Venture capitalist Chris Burniske predicted Bitcoin could reach $142,690 by October, with Ethereum and Solana also expected to surge.

6. Institutional capital, including corporate treasuries and sovereign entities, now controls over 3.64 million BTC, worth roughly $447 billion.

7. Ethereum neared its all-time high of $4,770, with analysts suggesting a breakout is inevitable.