Bitcoin, Ethereum Near New All-Time Highs: Another Bull Run?
The cryptocurrency market seems to be entering another bullish phase. Bitcoin (BTC) has reclaimed the $117,000 price level, and the global crypto market cap has hit $4.15 trillion. According to CoinGecko data, BTC is currently just 5.6% away from its all-time high of $124,128. Following Bitcoin’s (BTC) climb to an all-time high is Ethereum (ETH), which is 8.4% away from its peak. Will Bitcoin and Ethereum Hit New All-Time Highs This Week? Source: Bitcoinist Binance’s BNB coin hit an all-time high of $962.08 earlier today. Given the close proximities to their respective peaks, it would appear that BTC and ETH are also in pursuit of new all-time high price levels. The latest crypto market rally could be due to high expectations of a rate cut. Despite inflation figures rising to 2.9% in August, there is an incredibly high likelihood of the Federal Reserve rolling out its first interest rate cut of 2025 later this month. Bitcoin (BTC) and Ethereum (ETH) will likely continue thei...