Bitcoin Rockets to $124K as Markets Bet on Fed Easing
Bitcoin's rally is being powered by increasing certainty of Fed rate cuts
TOKYO: Bitcoin surged to a fresh record on Thursday, lifted by growing confidence that the U.S. Federal Reserve will soon ease monetary policy and buoyed by a wave of pro-crypto reforms.
The world’s biggest cryptocurrency climbed as much as 0.9% in early Asian trade to $124,002.49, topping its previous high from July. Ether, the second-largest token, also joined the rally, hitting $4,780.04 — its strongest level since late 2021.
Analysts point to a potent mix driving the gains: expectations for Fed rate cuts, steady institutional inflows, and policy shifts under President Donald Trump aimed at expanding crypto investment.
“Technically, a sustained break above $125k could propel BTC to $150,000,” IG market analyst Tony Sycamore wrote in a client note.
Bitcoin has already jumped nearly 32% in 2025, riding momentum from long-sought regulatory wins. Since returning to the White House, Trump has styled himself the “crypto president,” with his family making multiple high-profile moves into the sector over the past year.
Published in Daily Pak, August 15th, 2025
