Bitcoin Surges to New Record High of $124,000
Today, August 14, Bitcoin crossed the unprecedented threshold of $124,000 during early Asian trading, establishing a new historical record. The cryptocurrency briefly reached $124,500 (approximately €106,784) before retreating to around $123,600 by 4:00 am Paris time.
This surge can be attributed to the confluence of several macroeconomic and financial factors. The anticipation of a decrease in interest rates by the US Federal Reserve by the end of the summer has strengthened the appeal of risk assets, while the US dollar has fallen to its lowest levels in several weeks. According to Reuters, investors are now betting on a 50-basis-point monetary easing.
On the regulatory front, the favorable framework established by the Trump administration, combined with the closure of major procedures initiated by the US regulatory authority against the crypto sector, has boosted market confidence.
Meanwhile, the growth of institutional investments is contributing to the upward trend. Flows into Bitcoin ETFs continue to increase, absorbing part of the available supply, while companies like MicroStrategy and Block Inc. are strengthening their cryptocurrency positions. According to CoinDesk, Bitcoin's market capitalization has now surpassed $2.46 billion, surpassing that of Alphabet (Google) and becoming the fifth most valuable asset in the world.
Some analysts believe that this dynamic could propel Bitcoin towards $135,000 to $150,000 if current conditions persist, while highlighting that the inherent volatility of the crypto market remains a cautionary factor.
