Bitcoin beats Amazon in market value; Crypto breaches $120,000 to hit new peak
overtook
Amazon
in market value on Monday, climbing past the $120,000 mark for the first time and cementing its status as one of the world's most valuable assets. The cryptocurrency's market capitalisation surged to $2.43 trillion, eclipsing Amazon's $2.39 trillion, as investors rushed to price in regulatory breakthroughs and intensifying political support from US policymakers.
Bitcoin rose as much as 1.5% in Asian trading to hit a new all-time high of $121,207.55. It was last quoted at $120,856.34, bringing its year-to-date gains to 29%. Ether, the second-largest token, also advanced, touching a five-month peak of $3,048.23 before easing to $3,036.24. The total digital asset market now stands at approximately $3.78 trillion, according to CoinMarketCap.
Crypto week begins in Washington
The rally coincides with the start of a pivotal week in U.S. legislative circles. Beginning Monday, the House of Representatives will debate several bills including the CLARITY Act, Anti-CBDC Act, and GENIUS Act—proposals designed to give digital assets a clearer regulatory status and restrict the Federal Reserve from issuing central bank digital currencies.
Crypto Tracker
TOP COIN SETS
Web3 Tracker
24.58%
Buy
AI Tracker
22.05%
Buy
DeFi Tracker
19.61%
Buy
BTC 50 :: ETH 50
16.31%
Buy
Crypto Blue Chip - 5
15.41%
Buy
TOP COINS
(₹)
XRP
253 (
5.31%
)
Buy
Bitcoin
10,534,445 (
4.12%
)
Buy
Solana
14,297 (
2.58%
)
Buy
Ethereum
260,319 (
2.47%
)
Buy
BNB
60,546 (
2.12%
)
Buy
U.S. President Donald Trump, who has described himself as the 'crypto president,' has openly backed the digital asset industry and urged Congress to overhaul outdated rules.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View
Details
»
Institutional demand accelerates
"Bitcoin has smashed past $121,000, marking fresh all-time highs as institutional demand and policy tailwinds fuel the rally," said Himanshu Maradiya, Founder & Chairman of CIFDAQ. 'The latest surge follows last week's 10% rise, with over $289 million in short liquidations amplifying momentum. Bitcoin ETFs saw $1.2 billion in inflows on Thursday and $1.03 billion Friday, pushing total US ETF net inflows beyond $50 billion to date.'
Live Events
Maradiya noted that the growing alignment between pro-crypto policies, macro uncertainty, and the increasing accessibility of regulated investment vehicles is 'rapidly solidifying' Bitcoin's position as a mainstream asset.
$125,000 in sight
Nigel Green, CEO of financial advisory major deVere Group, said that Bitcoin could climb to $125,000 within days as market forces and political momentum converge.
'Bitcoin has blasted through $122,000, and all the indicators point to $125,000 in sight this week,' Green said in a press release. 'It's being powered by deep political backing, new regulatory clarity, and sustained institutional inflows. This is a powerful combination we haven't seen at this scale before.'
He highlighted the GENIUS Act in particular as a landmark measure that would create a national framework for stablecoins, one of the most significant regulatory steps by the U.S. to date.
'This is not crypto on the fringe anymore,' Green said. 'This is front and center of US financial policy. Trump is championing it, lawmakers are acting on it, and Wall Street is all-in.'
Wall Street steps in
Green said flows into US-listed spot Bitcoin ETFs have reached record levels, with asset managers like BlackRock and Fidelity continuing to scale up their exposure.
'Wall Street has crossed the Rubicon,' he said. 'The capital is committed. The infrastructure is there. The political will is building. The market is responding exactly as we expected.'
The deVere group, which has previously projected Bitcoin to hit $150,000 in this market cycle, said that view remains intact, though short-term volatility is expected.
'The trajectory to $150K is intact, but investors should expect a sharp move to $140K, then a healthy sell-off before we power higher,' Green said. 'Investments of this magnitude don't move in straight lines. They surge, cool, consolidate, then break out again. That's the phase we're entering.'
A new market order
Bitcoin's market capitalisation now stands at $2.43 trillion, surpassing Amazon and trailing only a handful of publicly traded giants. Gains in crypto-linked stocks, including U.S.-listed miners and ETF proxy plays, have also intensified in recent weeks.
'The scale of capital entering the space is rewriting the map,' said Green. 'This isn't hype. This is asset reallocation on a global level.'
'The $125K milestone is within reach now, and when it comes, it will confirm what we've been saying: that Bitcoin is not only back, but can be expected to break through every ceiling put in front of it if the momentum continues,' said Green.
Also read |
Bitcoin surges past $120,000 to fresh all-time high
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
an hour ago
- India Today
Trump calls for Fed governor Lisa Cook's resignation over mortgage allegations
US President Donald Trump on Wednesday demanded the resignation of Federal Reserve Governor Lisa Cook following accusations of having committed a mortgage fraud. The claims stem from a letter dated August 15, in which Federal Housing Finance Agency director Bill Pulte asked the Justice Department to investigate two mortgages Cook secured in recent the allegations on his social media platform, Trump wrote, 'Cook must resign, now!!!'advertisement Pulte, a frequent critic of the Federal Reserve and Chair Jerome Powell, has been vocal about the central bank's interest rate policies and has pushed for an inquiry into the bank's expensive headquarters renovation.'She needs to explain herself, but it's all there in black and white,' Pulte told CNBC in an interview. 'I think she needs to resign quickly.'According to Pulte, Cook allegedly declared two separate properties as her primary residence within weeks of each other, one in Michigan in June 2021 and another in Georgia. The Georgia property was later listed as a rental, raising questions about the legitimacy of the posted the letter outlining the claims on social media and alleged Cook had 'falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.'Despite his political alignment, Pulte insisted his actions were not politically motivated. 'There can be no mortgage fraud. This came across our desk, and it's my duty to report it,' he said. 'It wouldn't matter if she were a Republican or a Democrat. It is what it is.'The Federal Reserve declined to comment on the issue as reported by FACES INTERNAL AND EXTERNAL PRESSUREThe renewed scrutiny on Cook marks an escalation in the Trump camp's long-standing criticism of the Federal Reserve, especially against officials not seen as aligned with the former continues to press the Fed to lower interest rates and has kept up pressure on Powell, whom he derides as 'Too Late.' The central bank began easing rates last fall after significant hikes to combat post-pandemic inflation. Although inflation neared the Fed's 2% target earlier this year, rate cuts have since paused as officials evaluate the economic impact of Trump's tariff Cook's future at the Fed comes under question, the Senate Banking Committee is preparing to evaluate Trump's nominee Stephen Miran to replace outgoing Governor Adriana analysts suggest that Cook may not be compelled to step down just yet. 'For Cook, resigning will not end the legal probe. It is why we see no incentive for her to react to Pulte by departing before the next (Fed) meeting,' said Jaret Seiberg of TD Cowen Washington Research Cook were to resign, the number of governors appointed solely by Democratic presidents would fall to two - Michael Barr and Philip Jefferson. Powell's tenure as chair extends through May 2026, with his overall term lasting until notably, is the first Black woman to serve on the Fed's Board of controversy emerges as Fed officials gather in Jackson Hole, Wyoming, for their annual policy symposium. Powell is expected to hint at potential rate cuts in the latter half of the year, focusing on labor market vulnerabilities. Futures markets currently forecast an 83% chance of a rate cut in September.- EndsWith inputs from agencies Tune InMust Watch
India Today
2 hours ago
- India Today
'There is a lot of distrust on both sides': Einar Tangen breaks down India's balancing act with China
In a rapidly shifting global order, India finds itself at the center of competing geopolitical currents. On the one hand, tensions with China remain unresolved—from border disputes to Beijing's close ties with Pakistan. On the other, New Delhi is grappling with Washington's unpredictable trade measures and growing unease over America's unilateralist approach under Donald Trump. Against this backdrop, India is being asked to make difficult choices- between aligning with U.S. interests, managing its troubled yet vital relationship with China, and asserting leadership within the Global South through platforms like Adding to this complex landscape, Prime Minister Narendra Modi's recent meeting with Chinese Foreign Minister Wang Yi ahead of the Shanghai Cooperation Organisation (SCO) summit in Tianjin signaled at least a tentative willingness to re-engage, even as mistrust lingers after Galwan. To unpack these complexities, India Today's Geeta Mohan spoke to Einar Tangen, Senior Fellow at the Taihe Institute in Beijing and Chairman of Asia Narratives on Substack. Known for his candid assessments of global power politics, Tangen examines the fraught triangular dynamic between India, China, and the United States, while situating it within the larger multipolar shift the persistence of mistrust after Galwan, to Washington's fear of a stronger BRICS, to questions about whether New Delhi engaged too deeply with America at the cost of balancing China, Tangen offers sharp insights into how India's choices today could define not just its own trajectory, but the future of the world order.Q1. We're seeing serious engagements between India and China at the highest leadership levels, even as both countries navigate a crisis over trade and tariffs with the United States. How are these dynamics playing out? From New Delhi's perspective, from Beijing's perspective- what does this moment really signify? And while special representative talks on the boundary question remain part of the ongoing process, with no major announcements and the status quo largely unchanged, how should we interpret the significance of these engagements right now? A: Well, not quite. China has indicated that they're going to release model boring machines, also rare earths, and some fertilizer things like this. I think these were aimed at making sure that this was going to be a friendly visit. Obviously, they're meeting to set the agenda for Modi and Xi, assuming that they have a meeting on the sidelines of the SCO at the end of this month. But more importantly, these are two neighbours. They have issues. Areas of influence. Border trade. These have to be worked out, which they this process started, you can easily trace it back to last October. This is before Donald Trump's tariffs. But Donald Trump's tariffs have moved things up. I think it's very clear that everyone in India is kind of scratching their head- what did India do to the U.S. to deserve this treatment? advertisementPublic humiliation. Interference in the general elections. This kind of colour revolution in Bangladesh. Signing development agreements with Pakistan. Claiming credit for ending a war he didn't. These just doesn't make any sense. And then all of a sudden, 50% (tariffs).The only way it makes sense is if you look back at Donald Trump's campaign rhetoric, which shifted from just solely about China to the BRICS. Why would you talk about the BRICS? He has done so because if there's anything that keeps people in Washington up late or sleepless at night, it is the idea that 40% of the world's GDP, the majority of people, markets, resources, and four times the amount of manufacturing of the world would get together- 10 countries with many more wanting to join- and go to the United States and say the days of this unilateral hegemony is over. You have to join the multipolar world. And if you want to fight all of us, feel free. We'll crush you. That's the simple reality. advertisementI mean, Donald Trump is known for taco. That's his nickname. Trump always chickens out. He only does so when he's forced to, when everything is against him. So if India can be a leader in this movement to set the world free from this kind of tyranny, it's going to be a big, big win for India. Q2. That's an important perspective on BRICS. But when I say status quo, I'm referring specifically to the boundary talks led by the special representatives. They continue to discuss de-escalation, but so far there's been no concrete announcement on when or how that process might actually begin?A: There's 60,000 troops from both sides that are massed along the borders. They've been pulling back gradually. It is a process. There is a lot of distrust on both sides in terms of from the Galwan incident. They're testing each other to make sure that this is real. China has been throwing a goodwill gesture out there saying that we're going to do some things economically. But they're concerned. Is this just a stalking horse? Is Delhi looking to get leverage with the United States by going to Beijing? Or is this legitimately a falling attempt? advertisementNow, the border issue will last beyond Trump. But trust is something that has to be built up over time. It can be lost in an instant. And at this point, both sides have to slowly move at this in a very crab-like way in order to be assured that the other one is not acting in bad faith. Q3. But when we talk about distrust, I know the biggest problem and concern for India is the fact that there is serious hyphenation that we're looking at on China's part when it comes to India and Pakistan. Not just the fact that it's an ironclad friendship between Beijing and Islamabad, but the fact that Wang Yi is going to travel from India to Pakistan next. A: I don't think that China can interfere in what India does or where its diplomats go. There's a longstanding friendship between China and Pakistan. There are major projects there. The hope China had when it supported bringing both India and Pakistan into the SCO was that long-standing issues could be resolved through dialogue—by sitting at the table and negotiating—rather than through skirmishes, wars, or violence. advertisementI think China is still dedicated to that idea. That's why it talks to India. That's why in 2013, Xi Jinping said future of Asia, and perhaps the world, is going to be decided by the relationship between India and China. I still feel that's true, but it doesn't mean to the exclusion of all other countries. It's a global multipolar world where all countries have to be given a chance. Pakistan is a mess. Everybody knows that. Last thing China wants is Pakistan to dissolve. I don't think India wants that also. You do not want unknown people in charge of nuclear weapons. Q4. Can BRICS, as a multilateral grouping, become an alternative to what America is? Could BRICS really play a role in the process of the idea of de-dollarization? Could it be an alternative to the United States and its bullying across the world? A: There are already alternatives to the U.S. dollar. India employs them in terms of direct currency transactions, especially with Russia, but with all other countries. It's also trying to expand that. China does that as well. It has over 140 countries where it's the primary trade partner for that country. It makes more sense rather than risking buying dollars, which since Donald Trump, has gone into the office, have deteriorated by 10 percent. Obviously, countries are perturbed. SWIFT was weaponized. Russia, Venezuela, Iran, their monies overseas were taken. This makes a lot of countries very nervous. Of course, they're doing what they have to. Many of them have the lowest level of investment in U.S. treasuries and they're looking for alternatives. This is not just about India and China. Look at the Middle East. They feel the same way. Africa, South America. It's all the countries that do not want to be dictated to by the United States. So, yes, the U.S. is concerned about this. Donald Trump said he put 100 percent tariffs on any BRICS country. They even discussed creating an alternative to the dollar- and that reveals his fear. On one hand, he dismisses BRICS as insignificant, yet at the same time he imposes a 10 percent tariff on every BRICS country, and threatens 100 percent if they challenge the dollar. That tells you a lot right there. That's really what the issue here is. It's not that the dollarization is not about getting rid of the dollar. It is creating alternatives for countries that want to trade securely without being dictated to. Q5. Another piece of news coming in is about the U.S. On the one hand, Washington is engaging Beijing in serious trade talks with both India and China. Yet, at the same time, the Trump administration has cracked down on what it calls Chinese imports linked to forced labor. The Department of Homeland Security has now added steel, copper, and lithium to its high-priority enforcement list- pointing directly to the issue of slave labor. How do you view this dual approach: engaging Beijing diplomatically while simultaneously punishing it with sanctions? A: Well, this is Donald Trump's madman theory of how you conduct diplomacy. He has said- I don't want anyone to know what I'm thinking or what I'm going to do. I want them guessing. Well, that might work in real estate. But the fact is in diplomacy and in business, people want predictability. I'm not going to invest if I don't know if I'm going to get my money back. So Donald Trump is literally hurting his own cause. In China, many people that I have run into have said that the best gift that America has given to China in recent times has been Donald Trump. He has single handedly driven away his allies, including India, his neighbours, including Mexico and Canada, his traditional allies in Europe. He's castigated and minimised countries in South America, Africa. I don't know how else you can put it. He's really helping China with its very, very different approach, which says that it's a community of shared values and we're going to sink or swim together, literally, when it comes to climate change. Q6. In terms of Russia, India, and China, do you think there is a possibility of reviving the RIC? Especially with what's happening across the world, particularly not just when it comes to tariff war with America, but also conflicts. These three countries have been on the same page, interestingly, on every aspect and every conflict in most parts of the world? A: Yeah, because they share a Global South view. They're not in favour of the kind of hegemonic warmongering that has been going on and coming from the United States, supported often by Europe. Those days are over. But this idea that it has to be Russia, China, India is nonsense. India is part of BRICS. I have not heard one Indian commentator, and I've done nine shows in the last two days, mention Brazil. They have 50 percent tariffs on them as well. Why? Because he wants Bolsonaro, who attempted to overthrow his own government and keep himself in power out of jail. Doesn't that bother you? South Africa too with thirty percent tariffs. Donald Trump is going after BRICS. That is why. What did India do to the United States to deserve what it's it's gotten in the last few months. You have to ask yourself that so it cannot be about what India did, it's about what India represents. A member of BRICS, most populous nation on earth, one that is growing, one that has young people- that is what keeps Washington up at night. you know look India should be leading this. India was the developer of the non-aligned movement. What did that stand for? It still stands for the same thing and india should be at the forefront of that it should be protecting the global south and Central Asia from this pirate-like atmosphere that Donald Trump has been putting around. Can you imagine 180 tariffs, including against some very confused penguins? I mean it doesn't even make sense. I mean America has trumpeted for tens of years that India was a valuable ally and was going to be a counterweight to Chinese expansion. Where is all that? How can that possibly dissolve in six months?Q7. Do you think India made a mistake by engaging so aggressively, in the last two terms of the Modi administration as it did (with America)? Should it have looked at China as well? A: India was addressing rational concerns. It has long-standing issues with China, particularly along the border and in areas tied to its security and sphere of influence. When India signed agreements, the goal was essentially to seek stability, not confrontation. The logic was to balance its relationships while safeguarding its interests. No one from Beijing has given a clear signal of change, and India now finds itself pushed too far. Just look at the interference in your elections, the Bangladesh angle, the new agreement with Pakistan, or tariffs piled on top of tariffs. It only makes sense if you view it through a larger lens: Washington fears India could lead the global shift. India is the pivot. If India switches over and says it is time to put an end to this nonsense, it is time for the rest of the world to stand together and say we do not submit any longer we are no longer colonial vestiges to order around- Washington knows it's all over. Q8. Is this engagement that we're seeing a reset or forward movement and can India really trust china when china continues to engage Pakistan, protect Pakistan, even block terrorists from designation for Pakistan?A: I could ask the same in reverse: can Beijing trust Delhi when Delhi is aligned with alliances aimed at countering China while also deepening ties with the United States? Both countries have lost trust- Galwan was a turning point. But they are neighbors, ancient civilisations, and neither is going anywhere. That means resolution is essential, and trust has to be rebuilt gradually- through actions, not words. Of course, suspicions remain, but the real question is about the future. Do you want a future dictated by Washington, where any resistance draws you into asymmetrical conflict, or do you want a multipolar world shaped by cooperation and consensus?Look at U.S. freedom of navigation patrols near Taiwan and the fact that Washington is already asking Japan and Australia, 'What will you do if we go to war?' These are the pressures shaping Beijing's perspective. Mature nations with strong leaders don't solve issues instantly; they build trust step by step. From that view, what we are seeing now is forward movement. There was already a strong indication when Modi and Xi met in October and said, 'It's time to figure things out.' What's happening now is a continuation of that. Ironically, Trump's erratic and unreliable actions have only accelerated the process.- Ends
Time of India
2 hours ago
- Time of India
Horoscope Today, August 21, 2025: These zodiac signs face shocking betrayal
Start your day with clarity! Today's horoscope highlights the opportunities and challenges for each zodiac sign. Whether it's career, love, or personal growth, let the stars guide you. Take the advice, stay positive, and make the most of what the day brings. Aries Daily Horoscope Today , August 21, 2025 Today, a casual observation could lead you to notice a hidden opportunity. You may find this in your work, a conversation, or even a small detail around you. Trust your instinct and take the first step towards exploring it. In personal life, your openness will strengthen bonds. Financial matters may benefit from quick thinking. Stay calm and attentive, as even the smallest hint can bring growth. Cosmic Tip: Keep eyes and mind open. Lucky Number: 3 Lucky Colour: Yellow Taurus Daily Horoscope Today , August 21, 2025 You might discover a hidden skill today, something that could open new doors for you. This could be related to your work, hobbies, or even how you solve problems. Your confidence will grow as you explore it, and it may bring unexpected joy. Relationships improve when you share your discoveries with loved ones. Keep your approach simple and steady, and success will follow. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Benefits of Trading Bitcoin CFDs IC Markets Learn More Undo Cosmic Tip: Trust your natural talents. Lucky Number: 6 Lucky Colour: Green Gemini Daily Horoscope Today, August 21, 2025 Today could be the right moment to turn a small idea into action. Something that seemed insignificant before may now hold potential for real progress. Use your communication skills to get support and make it happen. In personal matters, a warm gesture will bring happiness. Keep your thoughts organised, and your energy focused on one goal at a time. Cosmic Tip: Small steps lead to success. Lucky Number: 8 Lucky Colour: Blue Cancer Daily Horoscope Today, August 21, 2025 You may feel inspired to organise a part of your life today, whether it is your home, your work desk, or even your thoughts. This effort will give you clarity and peace. People around you will notice your balanced approach, and it may even inspire them. Financial matters look steady if you plan wisely. Make space for positivity and fresh ideas. Cosmic Tip: Order brings inner peace. Lucky Number: 4 Lucky Colour: White Leo Daily Horoscope Today, August 21, 2025 A gentle reminder from someone could change how you see a situation today. This shift in your outlook might help you solve a problem or handle a relationship more calmly. At work, your flexible thinking can bring better results. In personal matters, being open to advice will make bonds warmer. Take this as a chance to grow from others' wisdom. Cosmic Tip: Listen before you decide. Lucky Number: 5 Lucky Colour: Gold Virgo Daily Horoscope Today, August 21, 2025 You might find joy in exploring a new route or visiting a fresh location today. This change in surroundings can clear your mind and spark fresh ideas. Work matters may benefit from your renewed energy, and personal relationships can grow stronger through shared experiences. Let curiosity guide you, and don't rush through the moment. Sometimes a small change can open big possibilities. Cosmic Tip: New paths bring new energy. Lucky Number: 2 Lucky Colour: Olive Green Libra Daily Horoscope Today, August 21, 2025 Today may inspire you to change how you handle your daily routine. A small adjustment in timing or method could make your work smoother and your mood lighter. You might even discover more free time for personal joys. In relationships, a fresh approach can renew harmony. Stay balanced, yet allow space for flexibility in your day. Cosmic Tip: Small changes create big ease. Lucky Number: 7 Lucky Colour: Light Pink Scorpio Daily Horoscope Today, August 21, 2025 You could feel encouraged to finally start something you have been putting off for long. Whether it is a task, a conversation, or a personal goal, taking the first step today will feel rewarding. Your determination will draw support from others, and progress will be faster than you expect. Keep your focus steady and enjoy the sense of achievement. Cosmic Tip: Begin now, don't delay. Lucky Number: 9 Lucky Colour: Maroon Sagittarius Daily Horoscope Today, August 21, 2025 A fleeting thought today could open the door to a creative breakthrough. Pay attention to those small flashes of ideas, as they may hold the key to solving a problem or starting something exciting. At work, your fresh thinking can impress others. In personal life, sharing your vision will deepen bonds. Keep your mind free and your heart light. Cosmic Tip: Follow the spark without doubt. Lucky Number: 1 Lucky Colour: Purple Capricorn Daily Horoscope Today, August 21, 2025 You may realise today how much you have grown from past challenges. This awareness can boost your confidence and guide you in current decisions. At work, you will feel more capable of handling pressure. In relationships, your maturity will inspire trust. Take a moment to appreciate your own journey and continue moving forward with steady determination. Cosmic Tip: Growth comes from every challenge. Lucky Number: 8 Lucky Colour: Dark Brown Aquarius Daily Horoscope Today, August 21, 2025 Today might show you that the answer you were searching for has been right in front of you all along. A conversation or a simple observation could make everything clear. In work matters, this realisation will save time and effort. In personal life, it may bring comfort and peace. Trust your inner clarity and act on it. Cosmic Tip: Look closely at the obvious. Lucky Number: 4 Lucky Colour: Sky Blue Pisces Daily Horoscope Today, August 21, 2025 You might feel that your timing is finally aligning perfectly today. Plans that seemed delayed could now move ahead smoothly. At work, this is a great moment to present your ideas. In relationships, shared moments will flow naturally. Trust that things are falling into place for a reason, and let your intuition guide the next steps. Cosmic Tip: Trust the natural flow of time. Lucky Number: 6 Lucky Colour: Sea Green Discover everything about astrology at Times of India , including daily horoscopes for Aries , Taurus , Gemini , Cancer , Leo , Virgo , Libra , Scorpio , Sagittarius , Capricorn , Aquarius , and Pisces . Read your detailed Horoscope Today and Horoscope Tomorrow here.
