Bitcoin Smashes $124K, Eyes Apple’s $3.4 Trillion Valuation

Bitcoin surged to an all-time high above $124,000 on Thursday, igniting speculation that the world’s largest cryptocurrency could soon rival Apple’s $3.4 trillion market capitalization. The rally pushed BTC to $124,457, briefly lifting its total market value past Google’s $2.45 trillion, making it the fifth-largest asset globally.

The milestone was celebrated across the crypto community, with Gemini co-founder Tyler Winklevoss posting, “Bitcoin all-time high and it’s only Wednesday” on X. Popular investor Kyle Chassé joined in, predicting this would be the “best week for Bitcoin.”

Bitcoin Eyes Apple’s Valuation

With Bitcoin now solidly in price discovery territory, attention has shifted to whether it can surpass Apple. Udi Wertheimer, a crypto analyst and Taproot developer, suggested that BTC would need to hit $175,000 to match Apple’s market cap — a move he believes could happen before the end of August.

Some forecasts are even more ambitious. Arthur Hayes, co-founder of BitMEX and chief investment officer at Maelstrom, predicted that Bitcoin could reach $250,000 in 2025 if the U.S. Federal Reserve returns to quantitative easing amid inflationary pressures.

Bitcoin’s rally has also lifted the broader cryptocurrency market to new heights, with total market capitalization surpassing $4.1 trillion for the first time in history. This momentum, according to Bitget COO Vugar Usi Zade, reflects a surge of institutional capital, bolstered by favorable macroeconomic trends and clearer regulatory frameworks.

Institutional Tailwinds and Next Breakout Levels

Recent U.S. policy changes, including the passage of the GENIUS Act, along with structural shifts such as 401(k) crypto allocations, are drawing more institutional investors into the market. Zade noted that this growth is “not just a wave of speculative enthusiasm” but a sign that crypto is becoming an integral part of mainstream investment portfolios.

Still, the path forward depends on how the market digests its rapid gains. “Whether this signals the beginning of a multi-quarter bull market expansion or the crest before consolidation will depend on how well the market absorbs its own momentum,” Zade said.

For now, $126,000 is emerging as the next important level to watch. Analyst Rekt Capital highlighted that Bitcoin must flip $120,000 into solid support before eyeing another breakout.