11.08.2025 11:53

Bitcoin's price has surged back above $122,000, nearing its all-time high of just over $123,000 reached in mid-July. This remarkable climb puts the cryptocurrency within striking distance of a new record. Simultaneously, Ethereum has experienced a significant upswing, exceeding $4,300 for the first time since November 2021.


While still approximately 12% below its all-time high of nearly $4,900, Ethereum's current price represents the peak of its ongoing cycle. This robust performance significantly increases the likelihood of a new all-time high being established in the near future. The current market conditions suggest a strong upward trajectory for the cryptocurrency.


This recent Bitcoin price increase is notable for its seemingly spontaneous nature. Unlike previous surges often linked to specific catalysts, this rise appears to have stemmed from a gradual reduction in selling pressure, without a corresponding increase in buying pressure initially. This initial price increase, however, then spurred further buying activity, fueling the upward momentum.


Currently, the increased selling pressure near historical highs is understandable, as many investors choose to secure profits. Concerns surrounding the potential formation of a "double top" pattern, which often precedes a price decline, may also be contributing to this selling. The market is currently characterized by a delicate balance between profit-taking and the potential for further growth. The coming days will be critical in determining the future direction of the market.