Recently, the price of Bitcoin has shown a strong pump momentum, continuously breaking historical records. On August 14, the price of Bitcoin soared to $124,474, setting a new milestone. As of 5:20 PM that afternoon, the Bitcoin quote was $121,868, with a rise of 1.7% in 24 hours. This rise continued the momentum from August 11 when it broke through the $120,000 mark, marking a new high in nearly a month.

The recent rise in Bitcoin prices can be attributed to several factors. First, the latest Consumer Price Index (CPI) data released in the United States fell below expectations, strengthening the market's anticipation that the Federal Reserve may cut interest rates in September. This expectation has lowered the holding costs of high-risk assets, stimulating the flow of funds into digital currencies like Bitcoin.

Secondly, institutional investors' interest in Bitcoin continues to heat up. Several well-known companies continue to increase their Bitcoin holdings, reflecting their confidence in the long-term value of this digital asset. According to SoSoValue data, as of August 13, the net inflow of institutional funds has reached $333 million.

In addition, the improvement of the policy environment has also provided support for Bitcoin prices. The government's signals to relax restrictions on cryptocurrency asset investments have boosted market confidence and further attracted investors to enter the market.

From a technical analysis perspective, Bitcoin's daily chart has broken through the important psychological level of $120,000. The MACD indicator shows a bullish crossover, and the Relative Strength Index (RSI) is at 62, indicating that bulls still have upward momentum. Market analysts believe that if Bitcoin can effectively break through $125,000, it may drive further rises to $150,000.

Although the performance of Bitcoin prices is impressive in the short term, investors still need to be cautious. The cryptocurrency market is highly volatile, and prices may experience significant fluctuations. It is recommended that investors fully understand the associated risks when making investment decisions and allocate assets reasonably based on their own risk tolerance.