Bitcoin hits new record, surpasses $124,000 amid market optimism

Thursday 14 August 2025 - 12:00

Bitcoin reached a new all-time high early Thursday during Asian trading, briefly exceeding $124,500, before stabilizing around $123,600. This new milestone surpasses its previous record of $123,205 set on July 14.

The surge was driven by a combination of strong performances on the U.S. stock markets, rising interest from institutional investors, and favorable U.S. crypto regulations under President Donald Trump.

On Wednesday, major U.S. indices such as the S&P 500 and the tech-heavy Nasdaq closed at record highs, reinforcing market sentiment and pushing digital assets upward.

"The cryptocurrency market is currently supported by very favorable fundamentals," noted Samer Hasn, market analyst at XS.com.

Supportive legislation boosts investor confidence

Analysts attribute Bitcoin’s continued rally to regulatory clarity in the United States. Recent legal disputes between crypto firms and the U.S. Securities and Exchange Commission (SEC) have mostly concluded, reducing uncertainty for investors.

Furthermore, President Trump’s administration has rolled back certain banking restrictions that previously discouraged financial institutions from working with crypto companies—often flagged due to reputational concerns rather than regulatory violations.

Hasn also suggested that Trump’s increasing involvement—along with that of his family—in the digital assets space may lead to even more pro-crypto policy shifts, potentially paving the way for deeper integration of cryptocurrencies into the traditional financial system.