Bitcoin hits new all-time high, blows past $123,200 as soft CPI fuels demand

FXStreetAug 14, 2025 12:28 AM

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Bitcoin reached a new all-time high on Wednesday, smashing its previous record of $123,218, according to Binance data.
The rally follows a soft CPI print for July, increasing the odds for a rate cut in the next FOMC meeting in September.
The top crypto is trading within a rising wedge and could stretch its rally above $130,000.

Bitcoin reached a new all-time high on Wednesday, one month after establishing a similar record in July. The rally comes follows a soft Consumer Price Index (CPI) index print on Tuesday, which fueled hopes for a rate cut in the next Federal Open Market Committee (FOMC) meeting in September.

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