Bitcoin has smashed through $124,000 to set a new all-time high, gaining 3.58% in the past 24 hours and pushing its market value to $2.457 trillion but then fall. This milestone briefly overtook Alphabet (Google) to make Bitcoin the world's fifth-largest asset by market capitalization.

The surge is being driven by several key factors: Federal Reserve rate cut expectations, continued ETF inflows, and growing institutional adoption following Trump's 401(k) crypto executive order. Technical analysis shows strong momentum above the $120K resistance level, with the next psychological barrier at $130K.

Market structure remains bullish with high volume confirming the breakout. ETF flows have been consistently positive, and the Google market cap flip represents a symbolic victory for crypto's mainstream acceptance.