Bitcoin Holds Steady at $120,000 as Ethereum Nears All-Time High

Strength comes from surging institutional and corporate demand. Strategic ETH Reserve reports holding 3.5 million ETH.

Written by: Ignacio Teson • Wednesday, August 13, 2025 • 1 min read

• Last updated: Wednesday, August 13, 2025

Quick overview

Growing institutional interest and expectations of U.S. interest rate cuts are boosting demand for cryptocurrency investments.
The overall crypto market rose 2.1% in the past 24 hours, with Bitcoin increasing by 1.3% and Ethereum jumping 4.7%.
Ethereum is nearing its all-time high, driven by strong institutional demand and significant inflows into Ethereum ETFs.
U.S. equity markets also performed well, with major benchmarks reaching record highs amid positive economic indicators.

Growing institutional interest and expectations of U.S. interest rate cuts are driving demand for cryptocurrency investments.

Digital assets started Wednesday with broad-based gains, fueled by hopes of lower rates in the United States and, in turn, renewed appetite for risk assets. According to Coingecko, the overall crypto market is up 2.1% in the past 24 hours.

Breaking it down by asset, Bitcoin—the largest cryptocurrency—rose 1.3% to $121,193, according to Binance. Ethereum (ETH), the leading altcoin, jumped 4.7% to $4,656, bringing its weekly gain to an impressive 28.6%. Other major altcoins followed suit: Solana gained 8.7%; Cardano, 7.3%; Dogecoin, 5.7%; BNB, 2.8%; TRON, 2.8%; and XRP, 1.5%.

BTC/USD

Ethereum’s rally

ETH is now within striking distance of its all-time high of $4,891, set in November 2021. Part of its strength comes from surging institutional and corporate demand. Strategic ETH Reserve reports holding 3.5 million ETH.

U.S.-listed Ethereum exchange-traded funds (ETFs) are also seeing strong performance. Since launching in July 2024, ETH ETFs have attracted over $11 billion in net inflows.

Traditional finance

Wall Street extended Tuesday’s upbeat tone, trading at record highs. The latest U.S. CPI reading reinforced market expectations for a rate cut as early as September.

On Wednesday, major U.S. equity benchmarks advanced: the Dow Jones Industrial Average rose 0.78%, the tech-heavy Nasdaq gained 0.05%, and the S&P 500—fresh off Tuesday’s record close—added 0.14%.

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ABOUT THE AUTHOR See More

Ignacio Teson

Economist and Financial Analyst

Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.