Overview

• Bitcoin surged past $124,000 for the first time on Thursday, driven by record spot ETF inflows and corporate treasury purchases
• Ethereum climbed to within 3 percent of its November 2021 all-time high, reflecting broad altcoin momentum
• An August 7 executive order expanding 401(k) investment options and clearer SEC staking guidance have broadened mainstream participation
• Softer inflation data and rising Federal Reserve rate-cut expectations have funneled risk-on capital into cryptocurrencies
• High derivatives open interest and clustered options strikes above $125,000 point to short-squeeze potential and episodic volatility