Bitcoin surged to an all-time high of $124,210 on Thursday, driven by growing expectations that the US Federal Reserve will ease monetary policy and by supportive reforms under President Donald Trump’s pro-crypto administration.
The world’s largest cryptocurrency, by market value, gained 0.9% before easing to $123,036.80 by 10:30 a.m. Its previous record was set in July. Ethereum also touched $4,780.04, its highest level since late 2021.
Investor sentiment strengthened after US inflation data showed prices rose 2.7% year-on-year in July, below the forecasted 2.8%, increasing the likelihood of interest rate cuts as early as September 2025.
Trump’s policies — including stablecoin regulation, relaxed SEC rules for digital assets, and an executive order allowing crypto in 401(k) retirement accounts — have helped push Bitcoin up 32% year-to-date. Since his return to the White House, the total value of the crypto market has increased from $2.5 trillion in November 2024 to over $4.18 trillion.
Analysts say a decisive break above $125,000 could send Bitcoin toward $150,000. The rally is spilling into altcoins like Solana, XRP, and Dogecoin, as traders speculate on capital shifting from Bitcoin into other tokens.
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