Bitcoin Jumps to New All-Time High Price as Ethereum Nears Record

Bitcoin hit another all-time high price mark on Wednesday as a increasingly favorable macro environment pushes traders to take more risk. And Ethereum might be following right behind.

The leading cryptocurrency hit a new peak price of $122,882 on Wednesday afternoon, beating its previous July record of $122,838, CoinGecko data shows.

Stocks also soared to close in on new highs as traders remained hopeful that the Federal Reserve will soon cut interest rates. The S&P 500 and Nasdaq both set record highs on Wednesday, with the Dow nearing its own record.

Over a seven-day period, Bitcoin has soared by 6%. Year-to-date, it is up 30% from when it opened 2025 trading at $94,384.

The coin first hit the long-awaited $100,000 mark in December, boosted by President Trump's November election win and increased investor interest in American Bitcoin exchange-traded funds.

Bitcoin has typically traded like a "risk-on" asset, along with tech equities, and performed well in the past in a low interest rate environment.

Crypto-friendly President Donald Trump has piled on pressure to the U.S. central bank's chair, Jerome Powell, to cut rates.

The new commander in chief has previously called Powell a "major loser" and a "fool," and threatened to fire him, and this week even talked about using a lawsuit to get interest rates lower.

The Fed is supposed to be independent, and the White House seldom meddles in the bank's affairs.

Ethereum Could Soar to $25,000 by 2028: Standard Chartered

Other major cryptocurrencies, including Ethereum, roared as well on Wednesday, with the second biggest digital coin also fast closing in on a new high.

Ethereum last set a record price of $4,878 back in November 2021, but has lingered well below that mark until recently, even while Bitcoin repeatedly pushed to new peaks. Now, ETH is priced at $4,728, putting the current price just 3% below the record.

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