Mumbai— Bitcoin surged to an all-time high of $124,210 on Thursday, fueled by rising expectations that the U.S. Federal Reserve will begin cutting interest rates as early as September 2025. Supportive regulatory reforms under President Donald Trump’s pro-crypto administration further boosted market sentiment.
The world’s largest cryptocurrency by market capitalization climbed 0.9 percent to surpass its previous peak from July before easing to $123,036.80 by 10:30 a.m. Ether, the second-largest token, also rallied to $4,780.04 — its highest level since late 2021.
Optimism was strengthened by U.S. inflation data showing a 2.7 percent year-on-year increase in July, slightly below expectations of 2.8 percent, reinforcing the case for looser monetary policy. Analysts said sustained institutional buying and recent reforms — including stablecoin legislation and an SEC regulatory overhaul to accommodate digital assets — have helped propel the rally.
“Breaking and holding above $125,000 could open the door to $150,000,” analysts noted. Bitcoin has already gained nearly 32 percent year-to-date, coinciding with Trump’s return to the White House, where he has styled himself as the “crypto president.”
Last week, an executive order cleared the way for crypto assets to be included in 401(k) retirement accounts, underscoring the administration’s market-friendly stance.
The broader crypto market has surged alongside Bitcoin. According to CoinMarketCap, total market capitalization has jumped to over $4.18 trillion since Trump’s election, up from about $2.5 trillion in November 2024. Altcoins such as Solana, XRP, and Dogecoin also saw strong gains, fueled by speculation of capital rotation from Bitcoin into other tokens. (Source: IANS)
