Bitcoin has surged to a new all-time high of $124,457, driven by optimism over a potential rate cut by the US Federal Reserve. This follows recent CPI data suggesting slowing inflation, which has fueled market speculation. The cryptocurrency had previously dipped below $119,000 earlier this week. Institutional demand continues to play a significant role in Bitcoin's rally, with ETFs and corporate treasuries now holding over 17% of the total supply. Analysts from Standard Chartered forecast that Bitcoin could reach $200,000 by the end of 2025 if the current bullish trend persists. Despite the positive momentum, the market remains volatile, with potential corrections that could see Bitcoin retest support levels at $118,422 or even $111,000.