Bitcoin Hits ATH Above $124K As Cardano Soars 17% On Grayscale ADA ETF Filing: Market Wrap
Bitcoin hit a new all-time high (ATH) above $124k on Wednesday, extending its month-long rally, while Cardano jumped 17% to a five-month peak on news of an ADA ETF filing by Grayscale. Bitcoin climbed to $124,128, driven by expectations of Federal Reserve rate cuts, institutional buying, and pro-crypto policies from the Trump administration. BTC has since fallen to $120,509 at 8:34 a.m. EST, more or less flat on the day. Cardano was also in the spotlight after a 17% jump powered by news that fund manager Grayscale submitted an application on August 12 to register a spot Cardano ETF in Delaware, using a strategy similar to its Bitcoin ETF. ADA is currently up 4.1% to trade at $0.9193. The BTC and ADA price pumps came as the crypto market overall climbed 1.5% to reach a market capitalization of $4.21 trillion. This surge in the Bitcoin price is trickling down to other altcoins, with Gitcoin (GTC), Wiki Cat (WKC), and Skale (SKL) leading the top gainers list on CoinGecko , with pumps...