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Economic Times
5 days ago
- Business
- Economic Times
Bitcoin at $124K, reaches all-time high. Here's what experts say
Live Events Ethereum Here is what experts say Parth Srivastava, Head of Quant, 9Point Capital's Research Team Vikram Subburaj, CEO, Himanshu Maradiya, Founder & Chairman, CIFDAQ (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Bitcoin surged to a new all-time high on Wednesday, mirroring gains in US equities as investors embraced riskier assets across global cryptocurrency reached the level of $123,500 on Wednesday. At 10:21 AM IST, the world's largest cryptocurrency was up 3.13% over the past 24 hours. And in the last seven days, it gained 7.66%.The milestone came soon after the S&P 500 closed at its own record for a second consecutive session, extending a summer run that has carried the benchmark to repeated highs, according to a report by to data from CoinMarketCap, the crypto sector's overall market capitalisation has ballooned to over $4.18 trillion, up from about $2.5 trillion in November 2024, when Trump won the U.S. presidential rally is being powered by increasing certainty of Fed rate cuts, sustained institutional buying and moves by the Trump administration to ease investment in crypto assets, said IG market analyst Tony Sycamore."Technically a sustained break above $125k could propel BTC to $150,000," he wrote in a has risen nearly 32% so far in 2025 on the back of long-sought regulatory wins for the sector following President Donald Trump's return to the White House. Trump has called himself the "crypto president" and his family has made a series of forays into the sector over the past year, according to a report by was recorded at the level of $4,764, and in the past 24 hours, it has gone up by 2.09%. Himanshu Maradiya, Founder & Chairman, CIFDAQ, says that 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 expert, Vikram Subburaj, CEO at says that Ethereum mirrored Bitcoin's strength, and surged to $4,784, about $100 from its all-time high, driven by heavy institutional flows. The $4,600 level now acts as critical support for a push into price discovery. Broader altcoin sentiment followed suit, with Cardano gaining 15% and BNB inching closer to its high, reinforcing the narrative of deepening alt rally shows no signs of slowing, with momentum fueled by strong inflows, bullish sentiment, and a favorable macro backdrop. As price action builds on higher lows and breaks key resistances, the market is eyeing fresh highs. If current trends persist, BTC could be on track to extend its upside into uncharted reached a new high of $124,457 after softer July US CPI data bolstered expectations for a September interest rate cut. The breakout has cemented $120,000 as fresh support, with $126,000 emerging as the pivotal level to unlock the next leg higher. Momentum has been amplified by a clean sweep of the $122,500–$124,000 short-liquidation pocket, leaving nearly $2 billion in positions exposed should the move extend towards $125, open interest has surged to a record ~$16 billion, leaving limited scope for further leveraged build-up before reaching historic surged past $124,000 for the first time, setting a new all-time high before easing to $123,868. The rally was fueled 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 U.S. CPI data at 2.7% y/y boosted optimism, though a core inflation uptick to 3.1% could keep the Fed cautious.
Time of India
6 days ago
- Business
- Time of India
Ethereum outpaces crypto market with 41% monthly surge; Bitcoin at $119K. Should you buy?
Ethereum has surged nearly 41% in the past month, outpacing the 9% rise in the total crypto market cap. Over the past three months, it has gained 59.30% and is up 14% in the last week. 'Ether has surged 41% in the past month, far outpacing the 9% rise in the total crypto market cap. This strong outperformance has driven higher hedging demand as traders secure profits and diversify into other assets,' said Harish Vatnani, Head of Trade, ZebPay. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program 'Caution above $4,000 is evident, with limited appetite for leveraged bullish bets despite $683 million in net inflows into spot ETH ETFs over just two days. Still, neutral derivatives readings suggest resilience, especially after the rapid rally from $3,400 to $4,300 in only eight days,' Vatnani added. Crypto Tracker TOP COIN SETS DeFi Tracker 19.59% Buy Smart Contract Tracker 18.28% Buy BTC 50 :: ETH 50 14.90% Buy NFT & Metaverse Tracker 9.46% Buy Web3 Tracker 9.35% Buy TOP COINS (₹) Ethereum 405,526 ( 7.74% ) Buy BNB 73,223 ( 3.42% ) Buy XRP 283 ( 2.51% ) Buy Bitcoin 10,469,749 ( 0.48% ) Buy Tether 88 ( 0.06% ) Buy He further noted that 'risk factors include potential pullbacks if ETH fails to clear $4,350 decisively. A rejection at current levels could lead to a retest of $4,150 support, while a break below $4,000 would signal a more significant correction toward the $3,800 zone.' 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 » Another expert, Vikram Subburaj, CEO, said Ethereum (ETH) surged to fresh multi-year highs, climbing 8% to $4,620, fuelled by BitMine's plan to raise an additional $20 billion for ETH purchases. Ethereum continues to lead on strong fundamentals, with $1 billion in net inflows into spot ETFs yesterday, and is targeting $5,000 by the end of August. The broad setup suggests the altcoin rally remains intact as long as Bitcoin avoids a decisive break below $116,000. Live Events Bitcoin Bitcoin's price was recorded at $119,000 in Tuesday's trade, marking a resurgence to a 10-day high and topping out near $118,500—a testament to the market's resilience amid broader geopolitical tensions. "Bitcoin's resurgence to a 10-day high, topping out near $118,500, is a testament to the market's resilience amid broader geopolitical tensions, while Chainlink's near 7% surge past $22 underscores the growing appetite for alpha-seeking altcoins. This kind of synchronized strength across major assets reflects not just speculative momentum but improving institutional confidence and capital flow in crypto markets,' said Avinash Shekhar, Co-Founder & CEO, Pi42. As of 11:07 am IST, the world's largest cryptocurrency was up 0.69% over the past 24 hours at $119,338, and has gained 4.41% over the last seven days. What experts say Parth Srivastava, Head of Quant, 9Point Capital's Research Team: Bitcoin's structure remains bullish as sustained ETF inflows , led by BlackRock's IBIT, continue absorbing supply at a rapid pace. With consistent 2,000–3,000 BTC daily accumulation and occasional large spikes, dips are being quickly bought. Momentum and on-chain trends suggest further upside potential as long-term holders remain steady and institutional demand stays robust. CoinSwitch Markets Desk: Bitcoin rebounded from early lows to test resistance above $120,000 but faced repeated rejections. After choppy consolidation, selling pressure pulled it back near $119,200, with a mild late recovery keeping momentum neutral to slightly bearish. ETH is trading near $4,620, its highest level since the all-time high of $4,800 in November 2021. The ETH ETF recorded inflows of just over $1 billion on August 11, followed by an additional $205 million yesterday. Two publicly listed companies—Japan's Metaplanet and the UK's The Smarter Web Company—have added nearly $100 million worth of Bitcoin to their corporate treasuries. Meanwhile, Circle, the issuer of the USDC stablecoin, announced plans to launch an EVM-compatible layer-1 blockchain later this year. Sathvik Vishwanath, Co-Founder & CEO, Unocoin: Weak jobs data and payroll revisions have bolstered expectations for a September Fed rate cut, with rates steady at 4.25%–4.50% for five meetings. Data quality concerns are growing as the BLS halts CPI collection in some cities, raising imputation to 35% in June; Trump's removal of BLS chief Erika McEntarfer adds political weight. Bitcoin is eyeing resistance between $117,335 and $123,250, supported by an ascending trendline and the 50-day SMA at $114,396. A breakout above $123,250 could target $127,000–$130,000, while a breakdown risks $113,650–$110,675. The RSI at 61 suggests more upside, but repeated $120,000 rejections indicate seller strength. Traders should wait for confirmation. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
6 days ago
- Business
- Economic Times
Ethereum outpaces crypto market with 41% monthly surge; Bitcoin at $119K. Should you buy?
Ethereum has surged nearly 41% in the past month, outpacing the 9% rise in the total crypto market cap. Over the past three months, it has gained 59.30% and is up 14% in the last week. ADVERTISEMENT 'Ether has surged 41% in the past month, far outpacing the 9% rise in the total crypto market cap. This strong outperformance has driven higher hedging demand as traders secure profits and diversify into other assets,' said Harish Vatnani, Head of Trade, ZebPay. 'Caution above $4,000 is evident, with limited appetite for leveraged bullish bets despite $683 million in net inflows into spot ETH ETFs over just two days. Still, neutral derivatives readings suggest resilience, especially after the rapid rally from $3,400 to $4,300 in only eight days,' Vatnani added. He further noted that 'risk factors include potential pullbacks if ETH fails to clear $4,350 decisively. A rejection at current levels could lead to a retest of $4,150 support, while a break below $4,000 would signal a more significant correction toward the $3,800 zone.' Another expert, Vikram Subburaj, CEO, said Ethereum (ETH) surged to fresh multi-year highs, climbing 8% to $4,620, fuelled by BitMine's plan to raise an additional $20 billion for ETH purchases. Ethereum continues to lead on strong fundamentals, with $1 billion in net inflows into spot ETFs yesterday, and is targeting $5,000 by the end of August. The broad setup suggests the altcoin rally remains intact as long as Bitcoin avoids a decisive break below $116,000. ADVERTISEMENT Bitcoin's price was recorded at $119,000 in Tuesday's trade, marking a resurgence to a 10-day high and topping out near $118,500—a testament to the market's resilience amid broader geopolitical tensions. Unlock 500+ Stock Recos on App "Bitcoin's resurgence to a 10-day high, topping out near $118,500, is a testament to the market's resilience amid broader geopolitical tensions, while Chainlink's near 7% surge past $22 underscores the growing appetite for alpha-seeking altcoins. This kind of synchronized strength across major assets reflects not just speculative momentum but improving institutional confidence and capital flow in crypto markets,' said Avinash Shekhar, Co-Founder & CEO, Pi42. ADVERTISEMENT As of 11:07 am IST, the world's largest cryptocurrency was up 0.69% over the past 24 hours at $119,338, and has gained 4.41% over the last seven days. ADVERTISEMENT Bitcoin's structure remains bullish as sustained ETF inflows, led by BlackRock's IBIT, continue absorbing supply at a rapid pace. With consistent 2,000–3,000 BTC daily accumulation and occasional large spikes, dips are being quickly bought. Momentum and on-chain trends suggest further upside potential as long-term holders remain steady and institutional demand stays rebounded from early lows to test resistance above $120,000 but faced repeated rejections. After choppy consolidation, selling pressure pulled it back near $119,200, with a mild late recovery keeping momentum neutral to slightly bearish. ETH is trading near $4,620, its highest level since the all-time high of $4,800 in November 2021. The ETH ETF recorded inflows of just over $1 billion on August 11, followed by an additional $205 million yesterday. ADVERTISEMENT Two publicly listed companies—Japan's Metaplanet and the UK's The Smarter Web Company—have added nearly $100 million worth of Bitcoin to their corporate treasuries. Meanwhile, Circle, the issuer of the USDC stablecoin, announced plans to launch an EVM-compatible layer-1 blockchain later this jobs data and payroll revisions have bolstered expectations for a September Fed rate cut, with rates steady at 4.25%–4.50% for five meetings. Data quality concerns are growing as the BLS halts CPI collection in some cities, raising imputation to 35% in June; Trump's removal of BLS chief Erika McEntarfer adds political weight. Bitcoin is eyeing resistance between $117,335 and $123,250, supported by an ascending trendline and the 50-day SMA at $114,396. A breakout above $123,250 could target $127,000–$130,000, while a breakdown risks $113,650–$110,675. The RSI at 61 suggests more upside, but repeated $120,000 rejections indicate seller strength. Traders should wait for confirmation. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
