Bitcoin surged to a record high on Wednesday, reaching $123,824 on Coinbase before easing to around $121,100. This brings the cryptocurrency’s price up 1.43% over the past 24 hours and puts it within reach of the closely watched $125,000 mark. 📈 The rally followed US inflation data showing consumer prices in July rose just under 2.8%, unchanged from June and below market expectations. This softer reading fueled anticipation for a possible Federal Reserve interest rate cut in September, with nearly 94% of traders now predicting it. 📊 Market enthusiasm is also evident in the growing adoption of Bitcoin ETFs, with US-listed Bitcoin funds pulling in $1 billion in net inflows over the past five days. 🚀 This trend has been driven by major institutional investors, including BlackRock’s IBIT fund, which added $111 million on Tuesday and now manages a substantial $58.07 billion. Additionally, Ethereum ETFs are seeing strong interest with $1 billion in inflows recorded just yesterday. 💰 Corporate activity is also contributing to the rally, with Metaplanet purchasing 518 BTC worth $61.4 million at an average price of $118,519. Large companies have accumulated almost 3,000 BTC within two days. 🚀 Furthermore, Michael Saylor’s Bitcoin-focused firm, Strategy, now holds a record-breaking $77.2 billion worth of Bitcoin, more than double its previous peak set in 2024. 💪 The market’s momentum is clear, with charts showing higher lows and a bullish crossover between the 100-day and 200-day moving averages. Traders believe that closing above $123,682 could pave the way for an even larger surge towards $126,875. 💪 With robust economic conditions, rising ETF investments, and corporations actively adding Bitcoin to their balance sheets, this rally holds strong promise.