Ethereum News Today: Bitcoin hits $122,958 all-time high as Ethereum nears 2021 peak

Bitcoin surged past $120,000 for the first time ever, reaching an intraday high of $123,166 in mid-July, marking a new all-time high [1]. The cryptocurrency’s rally continued through late July and early August, closing at $122,958.13 in recent sessions [2]. Year to date, Bitcoin has climbed approximately 27%, driven by robust institutional demand and a favorable regulatory climate [3]. Inflows into Bitcoin ETFs have also contributed to the bullish momentum, with the price trading above $120,600 as of early August [4].

Ethereum mirrored Bitcoin’s ascent, with the token inching closer to its November 2021 record high. On one occasion, Ethereum traded as high as $4,752.14, just under $200 shy of its 2021 peak [5]. The altcoin saw a 10% gain in one session and was valued at over $4,700 by mid-August [6]. Over $2.3 billion flowed into spot Ethereum ETFs within six days, indicating strong institutional and retail investor interest [7]. Fundstrat analysts have forecasted Ethereum could reach as high as $15,000 by the end of 2025, although such projections remain speculative and not reflective of current market conditions [8].

The crypto rally has also seen companies adopt a more bullish stance toward digital assets. One example is ETHZilla, a former biotechnology firm rebranded and repositioned to hold and buy more Ethereum as part of its treasury strategy. The company reported holding nearly $350 million in Ethereum and is following a similar strategy to that of MicroStrategy, which has become the largest corporate holder of Bitcoin [9]. ETHZilla’s shares have surged over 500% year to date, paralleling the performance of Bitcoin and Ethereum in the financial markets [10].

Bitcoin and Ethereum’s performance reflects broader macroeconomic trends, including the growing appeal of digital assets as a hedge against traditional financial volatility. As of early August, Bitcoin was approximately 2% below its July peak, trading at over $120,600, while Ethereum had rebounded from earlier dips and was valued near $4,800 [11]. The rise in institutional investment, particularly through ETFs, has further accelerated the price action for both cryptocurrencies [12].

Source: [1] ETF (https://etfdb.com/crypto-channel/bitcoin-hits-record-high-ether-nears-own/)

[2] CoinDesk (https://www.coindesk.com/markets/2025/08/13/bitcoin-tops-usd122k-eyes-fresh-record-with-ether-just-3-from-2021-ath)

[3] Deccan (https://www.deccanherald.com/business/bitcoin-gains-89-in-july-ethereum-reclaims-4300-level-3679589)

[4] Bloomberg.com (https://www.bloomberg.com/news/articles/2025-08-13/bitcoin-ether-near-record-highs-as-treasury-play-keeps-growing)

[5] CNBC (https://www.cnbc.com/2025/08/13/ether-nears-2021-record-high-as-money-pours-into-etfs-bullish-forecasts-abound.html)

[6] Cointelegraph (https://cointelegraph.com/news/ethereum-marching-toward-all-time-highs-as-traders-predict-13k-eth-price)

[8] Yahoo (https://finance.yahoo.com/news/ethereum-surges-to-near-record-as-investors-bet-on-biggest-macro-trade-of-the-next-decade-162035539.html)

[9] Investopedia (https://www.investopedia.com/ethzilla-follows-strategy-s-playbook-with-ethereum-treasury-plans-its-stock-is-soaring-11790308)

[11] Barron's (https://www.barrons.com/articles/bitcoin-price-ethereum-xrp-crypto-today-b0e73bde)