Crypto News: Ethereum Price Breaks $4,500, Bitcoin Near $120K, BNB Reaching $830 as Inflation Data Fuels Rally

Key Takeaways:

Ethereum (ETH) surpasses $4,500 after U.S. inflation data met expectations.

Bitcoin (BTC) trades just below $120,000, backed by bets on Fed rate cuts.

Binance Coin (BNB) rises to $830, nearing its all-time high.

Analysts see room for ETH to test $5,000, BTC to retest the ATH of $123K, and BNB to break $850 if momentum holds.

Ethereum breaks $4,500 — Institutional Demand in Focus

The rally of Ethereum above $4,500 marks its strongest move since early 2022, driven by a mix of macro relief and strong institutional buying. Lookonchain data shows that corporate treasuries have been adding millions of ETH in recent weeks, with BitMine Immersion Technologies and SharpLink Gaming accounting for more than half of the total ETH held by the top 10 companies.

On-chain analyses also point to large exchange outflows, a sign that investors are moving ETH to cold storage for long-term holding — a bullish signal ahead of the potential approval of the ETH spot ETF.

Bitcoin approaches $120K as inflation meets forecasts

Bitcoin trades just below $120,000, with market sentiment boosted after July's CPI met expectations, reinforcing forecasts of a Federal Reserve rate cut in September.

Analysts warn that BTC remains closely tied to U.S. stocks and may experience short-term volatility, but the macro setup favors a new test of its 2025 high near $123K if ETF flows remain strong.

BNB reaches $830 — All-Time High in Sight

Binance Coin has risen to $830