Bitcoin Shatters Records: Surges Past $124K as Crypto Market Cap Reaches Unprecedented High
Bitcoin just rewrote the rulebook—again. The king of crypto blasted past $124,000 today, leaving skeptics scrambling and bulls popping champagne. Meanwhile, the total crypto market cap smashed its all-time high, proving digital assets aren’t just surviving—they’re thriving.
The domino effect
This isn’t just a Bitcoin story. The entire ecosystem is riding the wave, from Ethereum to Solana and even meme coins that somehow still exist. TradFi analysts? Still calling it a bubble between sips of their $8 artisanal coffee.
What’s next?
Regulators will clutch their pearls, banks will pretend they ‘always believed,’ and your uncle who bought at $60K will finally stop complaining at Thanksgiving. One thing’s clear: crypto’s not asking for permission anymore—it’s taking over.
Bitcoin Flips Google
The move pushed Bitcoin’s market capitalization to $2.46 trillion, which enabled the asset to flip Google (Alphabet) for the metric, becoming the world’s fifth-largest asset.
$BTC is now the 5th largest asset in the world by market cap, surpassing Google.$BTC – 2.456T$GOOG – 2.450T pic.twitter.com/THBXQsiXBR
— CoinGecko (@coingecko) August 14, 2025
Analyst ‘Rekt Capital’ said that the $126,000 level “will be the pivotal price point going forward,” as a convincing break will send the asset much higher.
Venture capitalist Chris Burniske predicted an October top for Bitcoin, stating, “if I were to pick numbers, which we all know is a grade above guessing, I’d say BTC to 142,690.”
He also made some bold predictions for Ether to reach $6,900 to $8,000 and for solana to hit $420 this cycle.
“The crazier prices get in August/September/October, the more conviction I’ll have in an October top. If we pull back hard soon and get more muted, then perhaps we can extend this bull [market] for longer.”
“The record highs we’re seeing in Bitcoin and ethereum are being fueled by an unprecedented wave of institutional capital,” said Rachael Lucas, crypto analyst at BTC Markets, who added:
“Corporate treasuries are amplifying the supply squeeze. Public and private companies, along with sovereign entities, now control over 3.64 million BTC, worth roughly $447 billion, which is more than 17% of the total supply.”
Ethereum Inches Close to ATH
Ether also remains hot with a four-year high of $4,770 during the Thursday morning Asian session. This brought the asset to within 2.5% of its 2021 all-time high, and breaking it this week now seems inevitable.
“Ethereum has reached its final major weekly resistance before new all-time highs,” said analyst ‘Rekt Capital’, who explained that the asset will need to turn $4,630 into new support to confirm the upside into price discovery.
$ETH
Ethereum has reached its final major Weekly resistance before new All Time Highs
Ethereum will need to turn ~$4631 (black) into new support to confirm upside into Price Discovery
The last time ETH was at these highs, price upside wicked beyond black for 3 weeks before… https://t.co/XkRUEmE5m4 pic.twitter.com/DweH51Q2jc
— Rekt Capital (@rektcapital) August 13, 2025
Additionally, Bitcoin dominance has fallen below 60% which could signal the onset of altseason.
