Bitcoin’s New ATH: Why $124K Could Be Just the Start
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Bitcoin shattered its previous peak yesterday, briefly touching $124,347 as institutional demand and rate-cut euphoria overpowered lingering inflation worries.
Despite core CPI ticking up to 3.1%, traders bet heavily on a dovish Fed pivot, with odds of a September cut at 93.7%.
“Markets are pricing in perfection,” warned Presto Research’s Min Jung, noting BTC’s pullback to $123,868 reflects lingering uncertainty.
With Powell still wary of sticky inflation, Bitcoin’s rally hinges on whether the Fed validates—or defies—current optimism.
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