Bitcoin surged to a new record high of $124,457 on Thursday, briefly overtaking Google parent Alphabet’s (GOOGL) $2.45 trillion market capitalization. This milestone made Bitcoin the fifth-largest asset in the world by market value. The move lit up social media, with Gemini co-founder Tyler Winklevoss posting, “Bitcoin all-time high and it’s only Wednesday.” Investor Kyle Chassé echoed the optimism, calling it the “best week for Bitcoin.”
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The flip against Google has shifted the conversation toward even bigger targets. Some traders are now wondering if Bitcoin’s next stop could be Apple’s $3.4 trillion market capitalization. At current prices, that would mean Bitcoin climbing past $175,000. Analyst and Taproot developer Udi Wertheimer suggested this could happen before the end of August.
Analysts See Potential for Even Higher Prices
While $175,000 would be a major milestone, not everyone thinks the rally would end there. Arthur Hayes, co-founder of BitMEX, has predicted Bitcoin could reach $250,000 in 2025. His case rests on the idea that the U.S. Federal Reserve could return to quantitative easing. This would pump more liquidity into the system if inflation pressures grow.
This scenario, Hayes argues, would be fuel for Bitcoin’s price discovery. It would also deepen Bitcoin’s reputation as a hedge against monetary expansion, potentially drawing even more capital from institutional and retail investors alike.
Institutional Buying Powers the Rally
The surge in Bitcoin’s value has also helped push the overall crypto market cap above $4.1 trillion for the first time ever. According to Bitget COO Vugar Usi Zade, the rally is not just about hype. He says U.S. policy changes, including the recently passed GENIUS Act, along with new options for 401(k) crypto allocations, are helping to bring in more institutional capital.
“This is not just a wave of speculative enthusiasm,” Zade said. “It is the groundwork for crypto’s integration into mainstream portfolios.” He added that whether this turns into a “multi-quarter bull market” or pauses for consolidation will depend on how well the market can absorb the momentum it’s generating.
Traders Eye Key Levels for the Next Breakout
Market watchers are now focused on $126,000 as the next key level to confirm another breakout. Analyst Rekt Capital pointed out that Bitcoin has already turned $120,000 from a psychological barrier into a strong support zone.
Institutional flows, strong macro tailwinds, and technical momentum are all combining to keep traders confident. As Jeff Park, CIO of ProCap BTC, summed it up: “This is objectively the easiest BTC bull run set up ever.”
At the time of writing, Bitcoin is sitting at $121,706.71.
