Bitcoin has reached a new all-time high near $122,000, surpassing Amazon in market capitalization. This event is undoubtedly a landmark moment in the history of cryptocurrencies and traditional finance. For a long time, Amazon — a giant in e-commerce and cloud technology — represented the pinnacle of corporate success. Its market cap served as a barometer of global economic health and innovation. Now, Bitcoin — a decentralized digital currency built on revolutionary blockchain technology — has overtaken this behemoth.

This breakthrough reflects the growing recognition of Bitcoin as a legitimate asset class and its potential as a store of value, an alternative to traditional financial systems, and even as digital gold. Investors have acknowledged Bitcoin's scarcity, its resistance to censorship, and its ability to preserve purchasing power in an inflationary environment.

However, it's important to remember that market capitalization is just one metric, and comparing Bitcoin to Amazon — while symbolically powerful — is not entirely accurate. Amazon is a company with vast revenues, profits, and tangible assets. Bitcoin is a decentralized network whose value is entirely determined by market demand and user trust.

As for Bitcoin's recent rally, it has clearly been fueled by fresh inflows into ETF funds. Last week, net inflows into spot Bitcoin ETFs totaled $2.72 billion, while spot Ethereum ETFs saw net inflows of $908 million.

This impressive capital influx not only highlights the growing interest in cryptocurrencies but also signals the market's maturity and its readiness for institutional adoption. ETFs offer a convenient and regulated way to invest in crypto without the need for direct ownership or custody of digital assets. This opens the door to a broader audience — including conservative investors who previously stayed away from crypto due to its complexity and lack of regulation.

Furthermore, the successful launch of spot Bitcoin and Ethereum ETFs lays the groundwork for the further development of the crypto industry. It could lead to the creation of new financial products and services based on cryptocurrencies and broader acceptance of digital assets as a legitimate asset class.

Trading recommendations

Bitcoin From a technical standpoint, buyers are currently targeting a return to the $122,900 level, which would open the way toward $124,000, and from there, a short move to $125,300. The ultimate target lies around $126,900 — breaking through this level would signal a strengthening of the bull market.

In case of a pullback, buyers are expected to step in around $121,300. A return below this zone could quickly drag BTC down toward $120,000, with the most distant bearish target around $118,900.

Ethereum: Clear consolidation above $3,072 opens the way toward $3,116. The ultimate bullish target is the high near $3,162 — breaking through it would mark a return of buyer interest.

If ETH declines, buyers are expected at the $3,018 level. Dropping back below this zone could quickly push Ethereum toward $2,969, with the final downside target around $2,915.

What's on the chart

• Red lines represent support and resistance levels, where price is expected to either pause or react sharply.
• The green line shows the 50-day moving average.
• The blue line is the 100-day moving average.
• The lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.