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Gulf Insider
2 days ago
- Business
- Gulf Insider
Bitcoin Prices Reach Fresh, All-Time High Above $124,000
Bitcoin prices rallied on Wednesday, August 11, reaching a fresh, all-time high above $124,000. The world's most valuable digital currency had climbed to roughly $124,380 around 8:30 p.m. EST, according to Coinbase data from TradingView. Interestingly enough, ether, the second-most valuable cryptocurrency, was also in the green, rising to more than $4,750, less than $150 from the record high it reached in 2021, additional Coinbase figures from TradingView reveal. When explaining these latest price movements, analyst Joe DiPasquale cited several variables. 'Bitcoin's push to new highs is being fueled by strong ETF inflows, ongoing institutional adoption, and a supportive macro backdrop with rate cuts back on the table,' said DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital. 'Once BTC broke through prior resistance, momentum traders piled in, amplifying the rally,' he added. Going forward, investors have a positive view of the innovative asset, he continued, stating that 'Sentiment remains firmly bullish as investors view bitcoin as both a growth asset and an inflation hedge.' Several analysts spoke to the implications of bitcoin's latest zenith, including Tim Enneking, managing partner of Psalion, who claimed that 'Although BTC just barely put in a new ATH today (at least, so far), there is almost certainly much more to come.' 'Unlike any other digital or fiat asset, the fundamental nature of the BTC market is in the process of radical change,' he emphasized. 'There is an ever-growing list of companies, countries, states, provinces and massive whales all beginning to accumulate BTC.' 'And, today, almost no one is still proclaiming BTC to be a currency or a medium of exchange,' Enneking continued. 'But, virtually everyone agrees that it has become a nearly perfect store of value: finite supply, not controlled by any single (or small group) actor, easily transferrable, potentially not traceable (pass on a flash drive and avoid the blockchain), secure (although a quantum-defense fork will be needed relatively soon), durable and, increasingly, popular with large, institutional investors.' 'Many of these characteristics are new and, therefore, their implications have not been fully priced in,' he claimed. 'Over the past eight months, the value of BTC has only increased 20%; gold has appreciated more – and with far fewer, secular tailwinds. Therefore, there is a strong argument that BTC is significantly undervalued and I think we are just beginning to see the market understand and absorb that,' Enneking concluded. Ben Kurland, CEO at crypto research platform DYOR, also spoke to the implications of the latest price movements of bitcoin and ether, emphasizing how the overall crypto space has matured over time. 'Bitcoin setting a new all time high and ETH edging ever closer to doing so means we've moved from the speculative, retail-driven mania of previous bull runs to a place where institutions are adopting, real-world integrations are happening, and global liquidity is increasingly driving more efficient price discovery.' he stated via email. 'It's telling that both assets are surging like this in tandem, and it signals more broad market conviction than just a single-asset rally,' said Kurland. 'Momentum this strong often has legs because it tends to draw in latecomers who can further fuel even more volatility.' 'Right now, the story is more about validation than euphoria — and it means that crypto is graduating from an 'alternative' asset to an 'essential' one in the foundational portfolio mix,' he stated.
Forbes
2 days ago
- Business
- Forbes
Bitcoin Prices Reach Fresh, All-Time High Above $124,000
Bitcoin prices rallied on Wednesday, August 11, reaching a fresh, all-time high above $124,000. The world's most valuable digital currency had climbed to roughly $124,380 around 8:30 p.m. EST, according to Coinbase data from TradingView. Interestingly enough, ether, the second-most valuable cryptocurrency, was also in the green, rising to more than $4,750, less than $150 from the record high it reached in 2021, additional Coinbase figures from TradingView reveal. When explaining these latest price movements, analyst Joe DiPasquale cited several variables. 'Bitcoin's push to new highs is being fueled by strong ETF inflows, ongoing institutional adoption, and a supportive macro backdrop with rate cuts back on the table,' said DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital. 'Once BTC broke through prior resistance, momentum traders piled in, amplifying the rally,' he added. Going forward, investors have a positive view of the innovative asset, he continued, stating that 'Sentiment remains firmly bullish as investors view bitcoin as both a growth asset and an inflation hedge.' Several analysts spoke to the implications of bitcoin's latest zenith, including Tim Enneking, managing partner of Psalion, who claimed that 'Although BTC just barely put in a new ATH today (at least, so far), there is almost certainly much more to come.' 'Unlike any other digital or fiat asset, the fundamental nature of the BTC market is in the process of radical change,' he emphasized. 'There is an ever-growing list of companies, countries, states, provinces and massive whales all beginning to accumulate BTC.' 'And, today, almost no one is still proclaiming BTC to be a currency or a medium of exchange,' Enneking continued. 'But, virtually everyone agrees that it has become a nearly perfect store of value: finite supply, not controlled by any single (or small group) actor, easily transferrable, potentially not traceable (pass on a flash drive and avoid the blockchain), secure (although a quantum-defense fork will be needed relatively soon), durable and, increasingly, popular with large, institutional investors.' 'Many of these characteristics are new and, therefore, their implications have not been fully priced in,' he claimed. 'Over the past eight months, the value of BTC has only increased 20%; gold has appreciated more – and with far fewer, secular tailwinds. Therefore, there is a strong argument that BTC is significantly undervalued and I think we are just beginning to see the market understand and absorb that,' Enneking concluded. Ben Kurland, CEO at crypto research platform DYOR, also spoke to the implications of the latest price movements of bitcoin and ether, emphasizing how the overall crypto space has matured over time. 'Bitcoin setting a new all time high and ETH edging ever closer to doing so means we've moved from the speculative, retail-driven mania of previous bull runs to a place where institutions are adopting, real-world integrations are happening, and global liquidity is increasingly driving more efficient price discovery.' he stated via email. 'It's telling that both assets are surging like this in tandem, and it signals more broad market conviction than just a single-asset rally,' said Kurland. 'Momentum this strong often has legs because it tends to draw in latecomers who can further fuel even more volatility.' 'Right now, the story is more about validation than euphoria — and it means that crypto is graduating from an 'alternative' asset to an 'essential' one in the foundational portfolio mix,' he stated.
Forbes
3 days ago
- Business
- Forbes
Ether Prices Blow Past $4,500 For First Time Since 2021
Ether prices continued to extend their gains on Tuesday, August 12, surpassing $4,500 for the first time in more than three years. The world's second-most valuable digital currency by total market value reached as much as $4,638.00, according to Coinbase data from TradingView. At this point, the cryptocurrency was up close to 40% this month, after falling to roughly $3,375.00 on August 2, additional Coinbase figures from TradingView reveal. When explaining the latest price gains, several analysts who offered input for this article pointed to a range of factors, including strong flows into exchange-traded funds (ETFs) offering exposure to the digital asset. Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, for example, commented on these developments via email, stating that 'ETH's breakout is being driven by renewed inflows, a supportive macro backdrop, and optimism around potential spot ETF approvals.' Brian Huang, cofounder of fintech firm Glider, also weighed in, highlighting several variables as causing ether's latest gains. 'Institutional buyers are stepping in: digital asset treasury holdings of ETH have surged this summer, signaling increased long-term confidence from corporate treasuries,' he stated via email, citing data from Blockworks. 'ETH ETFs have also seen record inflows, suggesting traditional investors are positioning for further upside,' added Huang. 'On the adoption front, Stripe and Circle have both announced EVM-compatible L1s, reinforcing Ethereum's position as the universal settlement layer for Web3. Combined, these factors create a powerful narrative of institutional demand, mainstream integration, and network dominance that is helping drive ETH's latest rally above $4,500,' he noted. Momentum Trading Some analysts who offered input for this article emphasized the impact of momentum trading, referring to investors buying the cryptocurrency with the expectation that it will continue its current upward trend. DiPasquale spoke to this, stating that 'Once it cleared major resistance, momentum traders piled in, amplifying the rally. With liquidity improving and sentiment turning bullish, buyers are positioning for further upside after a long period of consolidation.' Tim Enneking, managing partner of Psalion, also commented on this development. 'Right now, ETH is a momentum trade, where it is trying to reestablish its parity with BTC. Nothing fundamentally shifted over the week that would justify a 50% increase – much less more than doubling over the past six!' he stated via email. 'But let's put the move into perspective: for ETH to simply regain its strength relative to BTC would still have to increase by almost $1k without BTC putting in a new ATH,' Enneking added. 'Almost exactly one year ago, BTC was at $49k; on the same day, ETH was at $2.1k,' he noted. 'At its new ATH, BTC has been up 2.5x from that level for a month; even with this current major move up, ETH is up just over 2x from that level. To equal BTC's performance, ETH would have to hit $5.3k – without BTC moving above $123k.' 'The same analysis can be conducted with dominance, and we again see that ETH is simply recovering from deep recent lows,' Enneking concluded. Traders Favor Ether Over Bitcoin More than one market observer described ether in relation to bitcoin, claiming that at least right now, investors are flocking to the altcoin instead of the world's most prominent digital currency. Bitcoin has reached repeated highs during its current bull cycle, while ether has not managed to surpass the all-time high it reached in late 2021. Julio Moreno, head of research for CryptoQuant, commented on this situation, stating via Telegram that 'ETH continues to be favored by investors and traders over Bitcoin, increasing the demand for ETH relative to Bitcoin. This has caused the price of ETH to rally and outperform Bitcoin's.' 'For example, ETH holdings by ETFs have been growing faster than Bitcoin as seen in the ETH/BTC ETF Holdings Ratio increasing to 0.15 from 0.05 in early May," he said. The chart below illustrates these developments: 'A similar situation can be seen in the spot trading volume of ETH outpacing Bitcoin's in the last five weeks,' he emphasized. The chart below helps visualize this situation: Rising Sentiment One analyst attributed ether's recent price gains to a shift in the mindset of investors, stating that they had been overly bearish about ether at some points. 'I believe a lot of this was just generally an overly bearish sentiment,' Daniel Polotsky, founder & chairman of CoinFlip, stated via email. 'In June, I told Forbes that Ethereum had come under pressure due to concerns about scalability and transaction fees, but that these concerns were somewhat overblown,' he said, elaborating on the situation. 'I had said at that time that Ethereum could be a compelling buy at those levels, because there tends to be a reversion to the mean," said Polotsky. 'In April, ETH hit a very low point vs. Bitcoin, when it was trading at 0.019 ETH per BTC. That ratio between the two hadn't been seen since late 2019, meaning that the sentiment was probably way too bearish and not matching reality,' he continued. 'The reversion seems to be playing out right now, as Ethereum has skyrocketed past $4,500," Polotsky concluded.
Yahoo
3 days ago
- Business
- Yahoo
The Shrinking Bitcoin Dominance Story No One's Talking About
Buckle up, crypto fans—Bitcoin's (CRYPTO: BTC) reign might be wobbling, and Ethereum (CRYPTO: ETH) is charging onto the scene like a rockstar stealing the spotlight! Track BTC movement here. As of this week, the crypto world is buzzing with a seismic shift. TradingView charts show Bitcoin's market dominance dipping to 59.87%—a drop that's got tongues wagging. On the other hand, Ether's dominance has surged to 13.62%, fueled by a jaw-dropping 51.68% price jump in the past month alone. With Ether hitting $4,486.75 and outpacing Bitcoin's modest 1.70% monthly gain, it's clear something big is brewing. Ether's Rockstar Comeback What's driving this Ether frenzy? Recent news paints a thrilling picture. On Aug. 11, Cointelegraph reported Vitalik Buterin reclaiming billionaire status as ETH soared, a testament to its skyrocketing value. Posts on social media are abuzz with excitement, with analysts highlighting Vitalik's statement that Ethereum has exceeded anyone's expectations thanks to its tech upgrades and booming ecosystem. The SEC's recent pro-crypto moves, unveiled by Chair Paul Atkins, have also lit a fire under Ether, with new reforms positioning it as a key U.S. infrastructure player—news that broke on July 31 and sent waves through the market. Related: Bitcoin's Quiet Struggle Meanwhile, Bitcoin, priced at $119,367.90, is feeling the heat. Its dominance has slid from a high of 66% earlier this year, and recent web reports suggest investors might be cashing out profits or shifting focus to altcoins. The contrast is stark—Ether's ecosystem, powered by DeFi and NFT growth, is pulling in capital, while Bitcoin's slower pace hints at a market craving fresh excitement. The Future Looks Bright (and Wild) Could this be the start of an "altseason" where Ether challenges Bitcoin's throne? With Ethereum ETFs raking in record inflows—$2.12 billion in a single week per CoinDesk's July 21 report—and DeFi TVL soaring, the momentum is undeniable. Bitcoin fans might argue it's just a breather, but Ether's recent surge, backed by institutional hype and innovative upgrades, suggests a thrilling new chapter. One thing's for sure: in this crypto rollercoaster, the ride's far from over—grab your popcorn! Read Next: Photo: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article The Shrinking Bitcoin Dominance Story No One's Talking About originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Khaleej Times
4 days ago
- Business
- Khaleej Times
Trump's gold tariffs accelerate Bitcoin's rise to record highs
Bitcoin is fast approaching uncharted territory, with prices surging as US President Donald Trump's steep tariffs on imported gold bars jolt traditional safe-haven markets and redirect capital into the world's largest cryptocurrency. A potent mix of macroeconomic shifts, institutional inflows, and policy reforms is propelling Bitcoin to the forefront of global finance, redefining its role as 'digital gold.' Early Monday, Bitcoin jumped more than 3.3 per cent to $122,150, according to TradingView, inching closer to its all-time high of $123,000 set earlier this summer. The rally followed Trump's decision to impose a 39 per cent tariff on imported gold — a move that disrupted bullion markets and sparked a flight of capital into digital assets immune to border taxes, storage limitations, and sudden regulatory changes. The gold tariff shock came alongside Trump's announcement of a 90-day extension on the pause for tariffs against Chinese goods, delaying a previous August 12 deadline. The reprieve briefly boosted risk sentiment in broader markets, but for Bitcoin, the more decisive factor was the blow to gold's appeal as a crisis hedge. Analysts say the shift is clear. 'For years, gold has held the mantle of crisis hedge,' said Nigel Green, CEO of global financial advisory group deVere. 'But when tariffs raise the cost of a physical asset, Bitcoin's frictionless nature — immune to taxes, borders, and policy whims—becomes exponentially more compelling. Trump's gold tariffs didn't just shift investor behaviour, they turbocharged Bitcoin's evolution into digital gold.' Institutional flows tell the story. In July alone, $14.9 billion poured into Bitcoin exchange-traded funds (ETFs) globally, with a record $12.8 billion heading into US spot funds. The scale of this investment underscores a growing conviction that Bitcoin is not just a speculative trade, but a strategic portfolio allocation in an era of political and economic volatility. 'Institutional capital doesn't move lightly,' Green noted. 'When a macro shock changes the economics of traditional havens like gold, digital alternatives suddenly look like necessities. Bitcoin is benefitting from both clarity in US policy and a growing recognition among institutions that value can—and should—exist outside the constraints of legacy systems.' Trump's policies are also actively supporting this shift. A recent executive order now allows cryptocurrencies in 401(k) retirement plans — a potential gateway to as much as $9 trillion in retirement assets. While this development was not the sole catalyst for Monday's surge, market participants say it strengthens the narrative of Bitcoin as a legitimate, long-term store of value. Henrik Andersson, chief investment officer at Apollo Crypto, said the breakout was 'overdue' after a month-long consolidation between $115,000 and $120,000. 'We have seen positive ETF flows, more treasury companies buying Bitcoin, and a number of positive developments coming out of the White House,' he said. 'In our view, it was just a matter of time before it would break up.' Beyond executive action, recent bipartisan legislation — the Genius Act and the Clarity Act — has further reassured investors by cementing the regulated status of cryptocurrencies in the US. This policy stability, coupled with geopolitical tensions and gold market disruptions, is fuelling a broad-based rally across digital assets. According to CoinMarketCap, total cryptocurrency market capitalisation rose nearly 2 per cent in the past 24 hours to $4.02 trillion, with trading volumes climbing almost 6 per cent to $176.88 billion. Ethereum, Solana, Tron, Dogecoin, and Hyperliquid gained up to 6 per cent, while smaller tokens like Pump(dot)fun, Lido DAO, and Ethena rallied between 10 and 16 per cent. The price momentum is also attracting longer-term investors, with some rebalancing portfolios away from physical assets vulnerable to political interference. 'If gold—once untouchable—is now vulnerable to regulatory shifts, digital alternatives are not just attractive, they're increasingly inevitable,' said Green. 'Trump's tariffs have helped rewrite the hierarchy of store-of-value assets.' Market strategists warn that the coming weeks could be pivotal. Bitcoin's ability to decisively clear the $123,000 threshold may set the tone for its next growth phase. Crypto analyst Altcoin Sherpa outlined two likely short-term scenarios: a gradual pullback to form a stronger base, or a sharp liquidity test near $120,000 influenced by Treasury movements and broader economic indicators. All eyes are now on mid-August US inflation data, with consumer and producer price reports expected to shape the Federal Reserve's September rate decision. A rate cut—currently seen as increasingly likely—could further weaken the dollar and provide another tailwind for Bitcoin. For now, Bitcoin's rally is being framed as more than a speculative spike. It is, in the eyes of many market participants, a structural reallocation of capital in response to the changing economics of safety and trust in the financial system.
