Bitcoin Price Surges Near All-Time High, BTC Poised to Break $123,000

Bitcoin surged above $122,000 today, leaving it only about 1% away from setting a new all-time high, according to data from Bitcoin Magazine Pro. The current record of $123,180, set on July 14, 2025, could be broken at any moment given Bitcoin’s trademark volatility. With institutional adoption continuing to rise and demand for $BTC accelerating, a new record may arrive sooner rather than later.

Adding to this momentum, whale accumulation has hit unprecedented levels. As of yesterday, the number of addresses holding over 100 $BTC reached a new all-time high of 18,996, surpassing the previous peak of 18,544 from February 26, 2017. Bitcoin Magazine Pro’s chart shows a steady increase in these large holdings, driven in part by corporate treasuries aggressively adding $BTC to their balance sheets. Michael Saylor’s firm Strategy has more than doubled its Bitcoin holdings since Donald Trump’s election victory, boosting its total treasury by 60%. This buying spree comes amid a friendlier regulatory climate under the Trump administration, which has rolled back certain Biden-era enforcement actions and introduced pro-crypto policies.

Macroeconomic conditions are also adding fuel to the bullish fire. US Treasury Secretary Scott Bessent said interest rates are “too constrictive” and should likely be 150-175 basis points lower. Speaking on Bloomberg Surveillance, he stated, “I think we could go into a series of rate cuts here, starting with a 50 basis-point rate cut in September… we should probably be 150, 175 basis points lower.”

President Trump took it a step further today, calling for the Federal Reserve to cut rates by 3 or 4 points, which would bring them to around 1%. “I believe we should be three or four points lower. So that’s over a trillion dollars we pay—every year—in interest. And it’s truly just a paper calculation. You sign a document and you save almost a trillion dollars… But despite that, we’re powering through it and have the greatest economy we’ve ever had,” said Trump.

Meanwhile, Cathie Wood, CEO of ARK Invest, reaffirmed her ultra-bullish long-term outlook. Speaking to CoinDesk, she said, “I think that we can safely say that our bull case is well over a million, well over a million dollars in five years,” citing Bitcoin’s role as the “gateway into digital assets for institutions” and a “substitute for gold as a store of value.”

With institutional inflows, whale accumulation, and potential monetary easing converging, Bitcoin could be on the verge of a historic breakout to new all-time highs.

This post Bitcoin Price Surges Near All-Time High, $BTC Poised to Break $123,000 first appeared on Bitcoin Magazine and is written by Nik.