Kraken Sees Bitcoin Soar to Record $123,973 as Bulls Eye $125,000

Bitcoin has achieved a historic milestone, surging past $122,000 to set a new all-time high of $123,973 on Kraken's exchange. The cryptocurrency is currently consolidating above crucial support levels, with technical indicators pointing to potential further gains. A bullish trend line has formed at $120,200, aligning with the 23.6% Fibonacci retracement level from the recent rally that began at $118,971. The 100-hour moving average is providing additional support, underscoring the strong institutional interest driving this upward momentum. As of August 14, 2025, market sentiment remains overwhelmingly positive, with traders setting their sights on the $125,000 mark as the next major psychological barrier.

Bitcoin Price Hits New All-Time High as Bulls Target $125,000

Bitcoin surged past $122,000, establishing a fresh record high NEAR $123,973 on Kraken's exchange. The cryptocurrency now consolidates above key support levels, with technical indicators suggesting potential for further upside.

A bullish trend line forms at $120,200, coinciding with the 23.6% Fibonacci retracement level of the recent rally from $118,971. The 100-hour moving average reinforces support as institutional interest grows.

Market participants eye $124,000 as the immediate resistance threshold. A decisive break above $125,000 could propel BTC toward $126,250, according to technical analysis. Trading volumes remain elevated across major exchanges as volatility returns to digital asset markets.

Ethereum Poised for $5K as Market Buzz Builds Around Rally

Ethereum's price action shows renewed bullish momentum, with ETH finding strong support near $4,500 before initiating a fresh surge. The second-largest cryptocurrency now eyes a decisive break above $4,750 as technical indicators flash green.

The 100-hour moving average and a newly formed bullish trendline at $4,480 create a sturdy foundation for further gains. Market observers note ETH's outperformance against Bitcoin during this leg up, with the asset clearing multiple resistance levels between $4,500-$4,700 in rapid succession.

Traders are watching the $4,880 resistance level closely—a clean break here could open the path to $4,950 and potentially trigger the much-anticipated push toward $5,000. The current consolidation above the 23.6% Fibonacci retracement level suggests accumulation before the next upward move.