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Bitcoin hits new all-time high above $124,000, overtakes Google in market value
Bitcoin surged to an all-time high of $124,457 on Thursday, surpassing Google parent Alphabet to become the fifth-largest global asset by market capitalization.
The rally, driven by growing investor optimism over potential U.S. Federal Reserve interest rate cuts, pushed the total cryptocurrency market capitalization to $4.19 trillion, Сoinpedia informs.
Key takeaways
- Bitcoin ATH: $124,457
- Daily gain: 3.55%
- Weekly gain: 8%
- Total crypto market cap: $4.19T
Historic rally pushes Bitcoin to new heights
Bitcoin’s daily gain of 3.55% and an eight-day climb of more than 8% reflect heightened market enthusiasm, further highlighted by a Fear & Greed Index reading of 68, indicating a bullish sentiment.
BTC price dynamics (August 2025). Source: TradingView
The surge in Bitcoin has bolstered other major cryptocurrencies. Ethereum rose 3.09% to trade at $4,762, recording a remarkable 30% increase over the past week.
XRP climbed 3.46% to $3.33, Solana jumped 4.6% to $206.58, and Dogecoin surged 7.63% in a single day, marking a 24.5% weekly gain.
Market analysts note that the rally has been accompanied by a sharp increase in global trading volumes, signaling strong demand at these price levels and reinforcing confidence in the ongoing upward momentum.
Investor outlook and market implications
Experts caution, however, that such rapid gains may invite short-term volatility as traders test psychological resistance levels, particularly around the $125,000 mark. The broader sentiment reflects expectations of Federal Reserve policy easing, which could further fuel investor appetite for risk assets. While Bitcoin’s rise underscores the increasing mainstream relevance of cryptocurrencies, market watchers advise monitoring regulatory developments and macroeconomic indicators that could influence market stability.
As Bitcoin continues to consolidate near record highs, investors and institutional players alike are closely watching whether the momentum can sustain itself or whether profit-taking may introduce temporary setbacks in the near term.
We previously wrote that Bitcoin price rises 2.02% as inflation data cools, boosting investor risk appetite.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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