New All-Time High (ATH): Bitcoin has surged past its previous records, reaching a new ATH above $124,000—specifically around $124,496, according to CoinDesk data cited by MarketWatch . Reuters corroborates, reporting a peak of $124,480.82 . Economic Times also confirms this milestone at $124,000 .
Primary Drivers Behind the Surge:
Anticipation of a Federal Reserve interest rate cut in September is boosting demand for Bitcoin as a risk asset .
U.S. policy shifts under President Trump—allowing Bitcoin in 401(k) retirement plans—are unlocking massive potential investment capital .
Strong institutional inflows, especially into Bitcoin exchange-traded funds (ETFs), are reinforcing bullish momentum
