$BTC
Bitcoin hit a new all-time high, reaching up to $124,480 during early trading, propelled by a summer rally driven by corporate accumulation, institutional demand, and U.S. regulatory tailwinds .
However, it subsequently slid back to around $118,000 after the release of higher-than-expected U.S. wholesale inflation data, resulting in a 4% drop on the day .
Another report records the peak at $124,002.49, attributing the rally to expectations of Fed rate cuts, institutional buying, and U.S. policy support .
CoinDesk also noted Bitcoin reaching approximately $124,496, marking a 33% gain year-to-date and nearly 120% over the past 12 months .
Regulatory & Institutional Developments
The Trump administration’s executive order allowing 401(k) retirement plans to invest in crypto has been a major catalyst behind institutional flows into Bitcoin ETFs and other crypto vehicles .
U.S. Treasury Secretary Scott Bessent confirmed that the government will not purchase more crypto for its strategic reserve. Instead, future reserve buildup will rely on confiscated assets, while current holdings range between $15 billion and $20 billion .
Institutional Footprint
BlackRock, one of the largest asset managers globally, has increased its crypto holdings to $104 billion, with Bitcoin forming the bulk of this portfolio .
Fidelity and Charles Schwab are also expanding their crypto divisions, signaling growing institutional confidence and infrastructure investment in the space .
Broader Market Context
Bitcoin’s rising dominance is contributing to the overall crypto market capitalization, which has now surpassed $4.18 trillion, up from around $2.5 trillion in November 2024 .
Analysts suggest that sustaining Bitcoin above $125,000 could pave the way to a $150,000 price range if momentum continues .
try now trade
sell and buy