# Bitcoin Breaks Past $124K to Hit New All-Time High

*Author: Jack Inabinet*
*Published: Aug 14, 2025*
*Source: https://www.bankless.com/read/bitcoin-breaks-past-124k-to-hit-new-all-time-high*

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Bitcoin notched a new all-time high of $124,457 late last night, with traders seemingly pricing in increasingly probable Fed rate cuts next month and spot ETF demand staying strong.

### What’s the Scoop?
- **Macro Tailwinds:** Traders began anticipating overwhelming odds of a September Fed rate cut after July CPI data (released August 12) came in cooler than expected at 2.7% year-over-year.
- **Fresh Record:** Bitcoin briefly touched $124,457 on the evening of August 13 before retracing the week's gains by the following morning; a screaming hot PPI print of 0.9% month-over-month was assigned blamed for a 5%+ BTC slide.
- **ETF Buildup: **According to *The Block's** ***"Bitcoin ETF" [dashboard](https://www.theblock.co/data/crypto-markets/bitcoin-etf), spot BTC ETFs interest is at all-time highs as measured by assets under management (AUM), with the figure swelling to $171B

### Bankless Take:
Bitcoin joins the U.S. stock market, with both touching new all-time highs in the month of August. While an above expectations PPI print appears to have spooked crypto markets, just last night, traders were preparing for "price discovery mode."
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