Bitcoin Prices Reach Fresh, All-Time High Above $124,000

Bitcoin prices rallied on Wednesday, August 11, reaching a fresh, all-time high above $124,000.
The world’s most valuable digital currency had climbed to roughly $124,380 around 8:30 p.m. EST, according to Coinbase data from TradingView.
Interestingly enough, ether, the second-most valuable cryptocurrency, was also in the green, rising to more than $4,750, less than $150 from the record high it reached in 2021, additional Coinbase figures from TradingView reveal.
When explaining these latest price movements, analyst Joe DiPasquale cited several variables.
“Bitcoin’s push to new highs is being fueled by strong ETF inflows, ongoing institutional adoption, and a supportive macro backdrop with rate cuts back on the table,” said DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital.