ব্যঙ্গাত্মক বর্ণনা এবং ফরেক্সের প্রবেশদ্বার বিন্যাস

Bitcoin breaks records but faces questions about staying power

Last week, Bitcoin once again took the lead in the market. The world’s largest cryptocurrency was buoyed by growing expectations of a Federal Reserve rate cut in September and optimism over rising corporate purchases. However, reality soon intervened. Bitcoin has since pulled back sharply and is now trading near $115,000–$116,000. Even so, BTC is trying hard to keep its optimism alive.

Earlier, Bitcoin reached a record high of $124,436 but was unable to hold on to those gains for long.

The surge in the world’s first cryptocurrency last week was supported by rising corporate purchases and the likelihood of a Fed rate cut in September. Such expectations were fueled by moderate US inflation data, with markets pricing in a 97% probability of a 25-basis-point cut in September.

Lower rates support cryptocurrency prices by freeing up more liquidity for investment in digital assets.

Bitcoin’s rise was also reinforced by renewed corporate demand. Many large companies resumed Bitcoin purchases, experts note. Earlier in August, the well-known firm Strategy announced a major BTC acquisition, bringing its total holdings to 628,946 coins.

But other digital currencies are not standing still—they are hot on Bitcoin’s heels. Last week, many crypto assets posted solid gains and looked ready to push toward new highs. In fact, most altcoins outpaced Bitcoin, overtaking the flagship asset in the price race.

The world’s second-largest cryptocurrency, Ethereum, also traded just below its previous record, benefiting from a surge in corporate buying. On Thursday, August 14, Ethereum jumped significantly, coming within arm’s reach of its 2021 all-time high. According to analysts, the wave of corporate purchases last week gave Ethereum strong support. The token climbed nearly 4% to $4,786, edging closer to its November 2021 peak of $4,868.

Several US-registered companies announced plans to acquire Ethereum, mirroring Strategy’s purchase of Bitcoin. This trend has prompted many analysts to sharply raise their Ethereum price target for 2025, from $4,000 to $7,500.

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