The price of Bitcoin recorded a new all-time high of $124,130 this Thursday morning, according to data from CoinGecko.
The increase in the price $BTC came after daily gains of 3.4%, rising from $119,000, thus surpassing its previous peak in July of $123,300.
Throughout the week, the price of Bitcoin gained nearly 8%, driven by easing trade tensions and rising core inflation in the United States, which reinforces expectations for an interest rate cut next September.
The market capitalization of Bitcoin reached $2.46 trillion, surpassing the market capitalization of Alphabet (Google) to become the fifth largest global asset.
Analyst 'Rekt Capital' believes that $126,000 represents a critical level that could open the door for additional gains.
In contrast, investor Chris Burniske expects the price $BTC to reach $142,690 by October, with expectations for Ethereum to rise to $6,900–$8,000 and Solana to $420.
Meanwhile, Rachel Lucas from BTC Markets pointed out that the record gains are supported by a massive influx of institutional capital, with public, private, and sovereign entities holding about 3.64 million Bitcoins, equivalent to 17% of the total supply.
For the price $ETH , it recorded $4,770, the highest level in four years, approaching just 2.5% from its historical peak in 2021, with expectations of breaking this summit soon.
The rise of Ethereum and other alternative cryptocurrencies came after Bitcoin's dominance fell below 60%, which may indicate the beginning of an altcoin season.