Bitcoin updates all-time high at $ 124,130

On Thursday morning, August 14, bitcoin BTC $118,366.72 Bitcoin -2.66% Market capitalization $2.36 trillion VOL. 24 hours $3.68 billion updated its all-time high during trading in Asia, reaching $ 124,130, according to CoinGecko, while quotes on Coinbase and Bitstamp exchanges were even higher. The asset gained 3.4% over the day, rising from a daily low of $ 119,000 and exceeding the previous record of $ 123,300 set on July 14. Over the week, BTC added almost 8% amid easing trade tariff tensions and continued high core inflation in the US, which increases the likelihood of a rate cut in September.

The rise in the exchange rate raised the market capitalization of bitcoin to $ 2.46 trillion, allowing it to bypass Google (Alphabet) and become the fifth largest asset in the world. An analyst at Rekt Capital noted that the key level is now $ 126,000, which could open the way for further growth. Venture capitalist Chris Berniske predicts a possible peak in October at $ 142,690, as well as target values for Ethereum ETH $4,593.87 Bridged Ether (StarkGate) -0.94% Market capitalization $0.12 billion VOL. 24 hours $5.65 billion at $ 6,900−8,000 and for Solana SOL $195.79 Binance-Peg SOL -1.78% Market capitalization $0.21 billion VOL. 24 hours $1.77 billion at $ 420.

According to BTC Markets crypto analyst Rachel Lucas, the current rally in bitcoin and ethereum is fueled by an unprecedented influx of institutional capital. She noted that corporate treasuries are exacerbating the supply shortage: public and private companies, along with government agencies, own more than 3.64 million BTC (approximately $ 447 billion), which is more than 17% of the total supply.

Ethereum also hit a four-year high on Thursday morning in Asia at $ 4,770, which is only 2.5% below its historical peak in 2021. An analyst at Rekt Capital believes that the asset is at the last significant weekly resistance level of $ 4,630, which needs to be turned into support to enter the zone of new price records.

In addition, bitcoin’s dominance has dropped below 60%, which may signal the beginning of the «alt-season» — a period of active price growth for alternative cryptocurrencies.