Bitcoin Hits New All-Time High Above $124,000, Pushes Market Capitalisation To $2.4trn

Bitcoin reached a new all-time high above $124,000 on August 14, pushing its market capitalization to $2.4 trillion. This milestone reflects strong institutional demand and favorable macroeconomic conditions, with growing expectations of easier US monetary policy.

Bitcoin ETFs have attracted billions in inflows since Friday, while Ethereum ETFs have also gained momentum. The bullish sentiment remains strong, with Taker Buy Volume reaching $1 billion.

Mining sell pressure has eased, with miner reserves dropping to 1 million BTC. This surge represents a significant psychological milestone for the cryptocurrency, whose performance has outpaced traditional assets this year.

Institutional adoption and regulated pathways for investment through ETFs have attracted billions in new capital to the market.