Crypto: Bitcoin Hits 124K USD, ETH & XRP Surge

Bitcoin Soars – New Record Above $124,000

On August 14, Bitcoin officially reached $124,128, marking a new all-time high before trading around $123,500. The main driver comes from expectations that the U.S. Federal Reserve (Fed) will cut interest rates in September, with market odds exceeding 90%.

According to Pav Hundal – market analyst at Swyftx – “Liquidity is being poured into risk assets with no signs of overheating,” as funding rates remain within normal ranges across major exchanges.

Ethereum & XRP Follow – Boosted By Capital Inflows And New Regulations

Ethereum surged on the trend of Digital Asset Treasuries (DATs) – a structure allowing investors to receive staking rewards, something ETFs currently cannot offer.

XRP benefited from regulatory clarity following its lawsuit with the SEC, alongside strong prospects for widespread adoption.

Sean Dawson (Derive) predicts ETH could surpass $8,000 – $10,000 this year, while Ryan Lee (Bitget) sets a target for XRP at $5.81 by the end of 2025 and nearly $9 in 2026.

Monetary Policy & Its Impact On Crypto

U.S. Treasury Secretary Scott Bessent proposed that the Fed should cut rates by 0.5% after “fantastic” inflation data and a significant downward revision in employment figures. The Trump administration continues to maintain a crypto-friendly stance, further bolstering investor sentiment.

Potential Risks – A “Priced for Perfection” Market

Despite the prevailing bullish momentum, experts warn the market may be overly optimistic about an imminent Fed rate cut. Uncertainty from tariff impacts and a slight uptick in CPI remain as risk factors.

Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.