Bitcoin Hits Fresh All-Time High, Crosses $124,000 Amid US Rate Cut Expectations
Bitcoin Price Prediction: Traders now eye $135,000 as the next possible target, with the recent breakout validated by rising ETF flows and macro tailwinds.
Bitcoin, the world's largest cryptocurrency, on Thursday touched its fresh all-time high, supported by strong institutional demand and growing expectations of a September interest rate cut. The price of Bitcoin stood at $124,196 on Thursday morning. However, the price has cooled down to trade at $120,640.
According to binance.com, Bitcoin traded at $124,196 at around 6 am on Thursday. However, as the prices have come down, the crypto was trading at $120,640 as of 9:45 am, which is 0.8% higher in the previous 24 hours, with a circulating supply of 19.91 million.
'Bitcoin surged past $124,000 for the first time, setting a new all-time high before easing. The rally was fuelled by strong institutional demand and growing expectations of a September interest rate cut, with CME FedWatch now showing a 93.7% probability. Softer-than-expected US CPI data at 2.7% y/y boosted optimism, though a core inflation uptick to 3.1% could keep the Fed cautious," said Himanshu Maradiya, founder and chairman of CIFDAQ.
Ethereum also climbed near its 2021 peak, trading at $4,717. Institutional inflows remain a key driver BTC ETFs added over $3.6 billion in the past month, while corporate and sovereign treasuries now hold 3.64 million BTC, or 17% of supply. The markets may experience consolidation between $120K and $125K, but strong structural demand and limited supply will support further gains through the end of the year, he added.
Bitcoin Price Prediction 2025
According to CoinSwitch Markets Desk, 'BTC has broken through the resistance zone between $122K-$123K, its previous October 2021 peak. Traders now eye $135,000 as the next possible target, with the recent breakout validated by rising ETF flows and macro tailwinds."
Ethereum (ETH) is leading the mid-cap charge. Today's rally pushed ETH up about 8%, climbing to roughly $4,630–$4,750, and positioning it just shy of its 2021 ATH. ETH spot ETFs pulled in $523M as inflows.
Fundamental momentum is further supported by whale accumulation, with on-chain data showing large addresses adding to positions ahead of this rally.
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