Bitcoin News Today: Bitcoin Surges Past $124K on ETF Demand and Fed Easing Hopes

Bitcoin’s recent price rally has been driven by a combination of growing demand for exchange-traded funds (ETFs), a weakening U.S. dollar, and mounting expectations of Federal Reserve interest rate cuts. Analysts suggest these factors have created a bullish momentum that could push Bitcoin higher in the coming months. On July 28, 2025, Bitcoin surged to $124,128, a new all-time high, as institutional investors continued to pour capital into ETFs linked to the cryptocurrency [2]. This trend was further supported by speculative bets on Fed easing, with odds of rate cuts exceeding 90% at one point in early August [3].

The U.S. dollar’s depreciation against other major currencies has also played a role in Bitcoin’s ascent. As the dollar weakened, global investors—especially those in emerging markets—increased their exposure to Bitcoin as a hedge against inflation and currency devaluation [3]. This dynamic was highlighted by analysts at Mitrade, who noted that the prolonged bull market structure is being reinforced by positive metrics like the Net Unrealized Profit/Loss (NUPL) indicator [5]. Meanwhile, rising corporate demand for Bitcoin treasuries, particularly inspired by MicroStrategy’s strategy under Michael Saylor, has added another layer of support to the asset [9].

Despite a temporary pullback following the release of troubling U.S. PPI data on August 9, experts remain optimistic about the trajectory of Bitcoin. The correction was largely attributed to profit-taking rather than a fundamental shift in sentiment [4]. Analysts continue to emphasize that the underlying drivers—ETF inflows, Fed easing expectations, and dollar weakness—remain intact [4]. One expert estimate even suggested that if current trends persist and the Fed delivers its anticipated cuts, Bitcoin could potentially reach between $140,000 and $160,000 within the next few months [1].

The broader cryptocurrency market has also benefited from the surge in Bitcoin’s price. While Bitcoin’s dominance slipped below 60% for the first time in six months on August 5, the overall market remained in bullish territory, with many altcoins experiencing significant gains [3]. This suggests that Bitcoin’s rally has had a ripple effect, stimulating demand across the wider crypto ecosystem.

Investor sentiment has been further supported by the Federal Reserve’s dovish signals, with market participants closely watching economic data for confirmation of rate-cut timing. A soft CPI reading in late July intensified expectations for Fed easing, helping to fuel Bitcoin’s latest surge [8]. The drumbeat for rate cuts has also weighed on global equities, with many investors shifting capital into risk assets like Bitcoin as they anticipate a more accommodative monetary policy [7].

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[1] Bitcoin's Rally Fueled by ETF Demand, Weak Dollar, and ... (https://news.bitcoin.com/experts-bitcoins-rally-fueled-by-etf-demand-weak-dollar-and-rate-cut-hopes/)

[2] Bitcoin News Today: Bitcoin surges to $124128 as ETF ... (https://www.ainvest.com/news/bitcoin-news-today-bitcoin-surges-124-128-etf-demand-dollar-weakness-drive-rally-2508/)

[3] Crypto Markets on Fire as Fed Rate Cut Hopes Send ... (https://coincentral.com/crypto-markets-on-fire-as-fed-rate-cut-hopes-send-prices-soaring/)

[4] Crypto Prices Quickly Slide After Troubling U.S. PPI Report (https://www.coindesk.com/markets/2025/08/14/crypto-prices-quickly-slide-after-troubling-u-s-ppi-report)

[5] Bitcoin NUPL Points To Prolonged Bull Market Structure (https://www.mitrade.com/insights/news/live-news/article-3-1040640-20250815)

[7] Stocks take a breather, Fed rate-cut drumbeat weighs on ... (https://www.reuters.com/world/china/global-markets-wrapup-2-2025-08-14/)

[8] Breaking: Bitcoin hits new all-time high, blows past ... (https://www.mitrade.com/insights/crypto-analysis/bitcoin/fxstreet-BTCUSD-202508141111)

[9] Bitcoin Surpasses $124K on Rate Cut Hopes and ... (https://www.msn.com/en-us/money/savingandinvesting/bitcoin-surpasses-124k-on-rate-cut-hopes-and-corporate-buying-surge/ar-AA1Kvmkw?ocid=finance-verthp-feeds)