- Bitcoin hit $124,496, surpassing its July all-time high.
- Ether rose to $4,791.19, nearing its 2021 peak.
- Institutional adoption and liquidity are driving crypto market momentum.
Bitcoin and ether reached new heights this week, signaling growing institutional confidence and broader adoption in the cryptocurrency market.
Bitcoin Breaks July Record
Bitcoin hit a new all-time high late Wednesday, climbing to $124,496 and surpassing its July peak of $123,193.63, according to Coin Metrics. The surge followed a cooler-than-expected July inflation report, which spurred optimism that the Federal Reserve may consider rate cuts at its September policy meeting.
Ether mirrored Bitcoin’s momentum, rising overnight to $4,791.19—just shy of its 2021 record of $4,866.01. Both coins dipped slightly on Thursday after hotter-than-expected wholesale inflation data, with Bitcoin dropping to $117,860.89 and ether to $4,562.58.
Institutional Demand Drives Ether Rally
Ether has outpaced Bitcoin for the week, rallying 12% compared to Bitcoin’s 1%. Analysts attribute this to heavy institutional buying, supply tightening, and growing corporate adoption. Ether briefly overtook Bitcoin as the crypto market leader in June, fueled by a friendlier regulatory environment. Jake Kennis, analyst at Nansen, notes that strong flows suggest the rally may have room to continue.
Crypto Gains Legitimacy in Global Portfolios
Ben Kurland, CEO of crypto research platform DYOR, highlighted that the near-simultaneous record highs indicate broader market conviction rather than a single-asset surge. “Momentum this strong rarely burns out instantly, but it also tends to draw in latecomers who can fuel volatility. Right now the story is less about euphoria and more about validation,” he said. The rise of Bitcoin and Ether underscores the transition of cryptocurrencies from “alternative” assets to essential components of diversified global portfolios.
Also Read: Norway’s Sovereign Wealth Fund Boosts Bitcoin by 192%
As Bitcoin and Ether approach or surpass record levels, institutional adoption and global liquidity are driving sustained price discovery. Investors are increasingly viewing crypto as a core asset class, marking a significant shift in market perception and long-term potential.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
