Bitcoin News: Bitcoin Briefly Overtakes Google’s Market Cap as Price Hits $124K — Investors Eye $175K Next

Key TakeawaysNew Milestone: Bitcoin hit an all-time high of $124,457, briefly surpassing Google parent Alphabet’s $2.45 trillion market cap.Fifth-Largest Asset: BTC became the fifth-largest global asset, with investors now eyeing Apple’s $3.4 trillion valuation.Institutional Capital Rising: Analysts cite macro tailwinds, US policy shifts, and growing regulatory clarity as drivers of momentum.Bitcoin (BTC) surged to a record high of $124,457 on Thursday, briefly overtaking Google parent Alphabet in market capitalization and becoming the fifth-largest asset in the world. At its peak, Bitcoin’s market value topped $2.45 trillion, before easing to around $121,604 at press time.Market Eyes Apple’s $3.4 Trillion ValuationThe milestone has fueled optimism that Bitcoin’s price discovery phase could extend toward Apple’s $3.4 trillion market cap. BTC would need to rise above $175,000 to surpass Apple — a level crypto analyst and Taproot developer Udi Wertheimer believes could be reached before the end of August.Others are even more bullish. Arthur Hayes, co-founder of BitMEX and CIO at Maelstrom, predicts Bitcoin could climb to $250,000 in 2025 if the US Federal Reserve returns to quantitative easing in response to rising inflation.Institutional Capital Driving BTC RallyBitcoin’s record has also propelled the total crypto market capitalization above $4.1 trillion for the first time in history.According to Vugar Usi Zade, COO of Bitget, the momentum reflects growing institutional participation, supported by:US policy shifts, including the recently passed GENIUS Act.Structural changes like 401(k) crypto allocations.Increasing regulatory clarity that encourages long-term portfolio integration.“It is not just a wave of speculative enthusiasm; it is the groundwork for crypto’s integration into mainstream portfolios,” Zade told Cointelegraph.He added that whether this marks the start of a multi-quarter bull market or precedes a consolidation phase will depend on how the market digests its own momentum.Analysts See “Easiest BTC Bull Run Setup”Market sentiment remains upbeat. Jeff Park, CIO of ProCap BTC, called the current setup “objectively the easiest BTC bull run” in an X post on Wednesday.Meanwhile, $126,000 is emerging as the next “pivotal” level for confirming another breakout, after BTC flipped the $120,000 psychological level into strong support, according to analyst Rekt Capital.Bitcoin’s brief flip of Google’s market cap marks another historic moment in its price discovery phase. With institutional capital flowing in and macro conditions aligning, the race toward $175K — and potentially $250K — is now firmly in focus, according to Cointelegraph.