The price of bitcoin shattered its previous ceiling on Aug. 13, hitting a record $124,025 per coin between 7 p.m. to 8:15 p.m. Eastern time. The leading digital asset’s market cap is now larger than Google’s, making it the fifth-largest asset globally.
Bitcoin Notches New High—Options Traders Go Big
On Bitstamp, bitcoin (BTC) reached $124,025 per coin, edging past the previous peak of $123,236 set 30 days ago on July 14, 2025, on the same exchange. The cryptocurrency now boasts a $2.458 trillion market capitalization and has logged $58.71 billion in global trading volume over the past 24 hours. Driving the heaviest BTC trading action are Binance, Bybit, Coinbase, Upbit, and OKX.
Bitcoin smashed past the $124,000 zone on Wednesday.
Wednesday’s most active BTC pairs include USDT, FDUSD, USD, KRW, EUR, and JPY. Market indicators are leaning bullish, with the relative strength index (RSI), momentum, and moving average convergence divergence (MACD) all signaling strength. Moving averages (MAs) are also tracking firmly in positive territory.
While BTC holds strong at $124,016 per coin just after the peak, it commands 58.8% of the $4.16 trillion total crypto market capitalization. Ethereum and a host of other alternative digital assets have climbed sharply as well, with ETH’s dominance now at 13.7%. Moreover, bitcoin options trading is heating up, with calls leading the pack in both open interest and volume.
On Deribit, calls represent 61.93% of all open positions, leaving puts at 38.07%. The hottest contracts are stacked toward high strike calls, including the Dec. 26, 2025, $140,000 and $200,000 calls, as well as near-term Aug. 29 $120,000 and $124,000 calls. Between spot markets, futures, and options, BTC appears to be back in a full-blown price discovery phase.
The current structure of bitcoin’s options market suggests traders aren’t just optimistic—they’re expecting acceleration. With sentiment favoring higher strike prices, speculation is tilting toward aggressive upside potential, reflecting a growing appetite for risk that could shape short-term price dynamics dramatically.
As capital flows intensify and trading activity concentrates across major exchanges, bitcoin’s influence on the broader crypto economy deepens. The asset’s expanding reach may soon prompt institutional shifts and strategic recalibrations, especially as altcoins track its lead amid a resurging appetite for digital assets.
