Bitcoin Reaches New ATH, Crypto Market Follows Suit, Logging Green Week
It has been one of the most dramatic green weeks over the recent months for the cryptocurrency market. The locomotive has, as always, been Bitcoin and its new price all-time high, which pulled the rest of the market along, letting the community think that the altcoin season had kicked off.
However, less than a week after the ATH, the pioneer cryptocurrency is already down about 5%, pushed down by massive liquidations as funds began flowing into Ethereum and other altcoins.
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Bitcoin, Ethereum surge this week
Bitcoin’s latest all-time high of $124,457 reached on August 14 has been the result of the peaking bullish narrative that has been building throughout 2025. Bitcoin, which was earlier dismissed as a “bubble” and “digital tulips,” has now managed to hit price levels that only few bulls were bold enough to predict just five years ago.
As Bitcoin crossed $124,000 for the first time in history, the community began to discuss whether this is just an early phase of an ultra-bullish cycle or if a substantial price correction would follow. Anyway, BTC has once again managed to grab the global attention, attracting both institutional and retail investors, who have been struck by FOMO – fear of missing out.
The second-largest gainer this week has been Ethereum, the brainchild of Vitalik Buterin and a group of other software engineers. ETH rallied by more than 14% over the past week alone, soaring from $4,182 and topping $4,800 briefly. Following Bitcoin’s price trajectory, ETH went down, shedding more than 7% since then. Still, that decline was followed by a 3.6% increase, and Ethereum is now trading around the $4,500 level. This week, spot Ethereum ETFs logged in weekly inflows of more than $2 billion, while Bitcoin ETFs were struck with substantial outflows.
Whales and treasury companies began to accumulate ETH, stacking it on their balance sheets and thus opposing Bitcoin treasury companies – Strategy, Metaplanet, etc. One of Ethereum-stacking companies, Bitmine, has accumulated another 106,485 ETH worth $470.51 million. Now, it holds a huge 1,297,093 ETH valued at $5.75 billion. Meanwhile, Michael Saylor has once again hinted at another Bitcoin accumulation in a recent X post.
As for Ethereum, some Bitcoin maximalists, including Samson Mow, have been pointing out that in two weeks, 893,599 ETH are due to be unstaked. This amount of Ethereum is equal to $3.96 billion. They are arguing that ETH holders might sell their unlocked coins to convert them into Bitcoin.
TRUMP and TON prices spike
It is not only crypto market giants that soared in price this week. Among smaller-cap altcoins, which saw significant price increases, were the meme coin TRUMP and Toncoin. In a recent development, Donald Trump’s personal meme coin launched right before his inauguration day in January, and went up by roughly 5% after the meeting between Putin and Trump ended in Alaska.
Even though no particular deal was reached regarding the war in Ukraine, Trump still called this meeting a very good and productive one. Further plans between these presidents are planned for later this year. Even though TRUMP is a meme coin, its price, being tied to the US president, could not help but react to this important geopolitical development. This once again proves how crypto markets have deeply merged with not only popular culture but politics as well. Rather than having any large value, TRUMP has been soaring on attention gained by the US president, his actions, and their visible consequences.
Another popular altcoin that saw a large price increase this week was Toncoin (TON), firmly associated with the Telegram messaging app. On August 14, it turned 12 years old, which the founder, Pavel Durov, informed the community about in his Telegram post.
TON marked the anniversary with a rally of 8.5%, peaking at $3.6 on that day. However, after that, it crashed by 6.84% within a single day. The bullish sentiment did not last long, and TON followed Bitcoin down, being too highly correlated with the price of digital gold, like all altcoins in the market. The price behavior of Bitcoin proved a stronger trigger than the cultural milestone of Telegram’s anniversary in the end.
Besides, macroeconomic factors were also favorable this week. The Consumer Price Index report in the US this week came out below expectations, indicating that inflation might finally be going down. This was a good piece of news for investors as they began to anticipate that perhaps in autumn the Federal Reserve would finally dare cut interest rates, allowing for free money to flow into markets.
Thus, the combination of lower inflation and bullish momentum in the crypto market pushed the prices up significantly. No,w traders are watching attentively both macroeconomic and geopolitical developments to guess where Bitcoin and the whole crypto market will head from here.
