Bitcoin hit a new high of more than $124,000 overnight but the largest cryptocurrency and Ether are retreating from recent highs.

Bitcoin hits $123.5K as Fed cut hopes rise; Ethereum target lifted to $25K; BPENGU presale races toward Sept 2 launch.

With both institutional crypto products like Ethereum ETFs attracting record capital flows and niche projects like Bitcoin Penguins riding thematic trends, the current market reflects a mix of high-volume institutional participation and grassroots-driven speculative narratives.