Bitcoin Hits $124K as Samson Mow Outlines 2 Scenarios

Key Notes

• BTC has broken $124K as CPI holds steady at 2.7%.
• Samson Mow sees either further BTC dominance or an altcoin-led pullback.
• Altcoin market cap has gained 26%, but faces key resistance near $315B. .

Bitcoin

BTC $121 899

24h volatility: 1.8%

Market cap: $2.43 T

Vol. 24h: $69.76 B

touched a new record high of $124,457 early Aug. 14, just a day after July’s US Consumer Price Index (CPI) data came in cooler than anticipated. Inflation held at 2.7% year-over-year, unchanged from June and below expectations of 2.8%, with monthly CPI rising 0.2%.

The news added roughly $40 billion to Bitcoin’s market cap, pushing the total crypto market capitalization to $4.25 trillion. According to CoinMarketCap, BTC is currently trading around $121,881 with a 32% surge in its 24-hour trading volume.

Long-time Bitcoin advocate Samson Mow described two very different potential paths for the market. In one, Bitcoin “goes Godzilla,” absorbing market liquidity, resulting in an altcoin drop.

Mow suggested another possibility of an “altcoin mania,” which would prompt a sharp Bitcoin sell-off before the largest cryptocurrency regains its spot.

The Bitcoin advocate also revisited his “Bagholder’s Dilemma” theory, arguing that Ethereum may struggle to break past its previous high. This is because holders get tempted to sell near psychological resistance levels. However, he believes that’s a challenge Bitcoin is less likely to face.

Related article: Metaplanet Makes History as Bitcoin Bet Pays OffDespite Bitcoin’s breakout, Ether

ETH $4 735

24h volatility: 2.4%

Market cap: $571.93 B

Vol. 24h: $57.85 B

has outperformed over the past month, climbing 59% versus BTC’s modest 3.8% gain. At the time of writing, ETH was trading at around $4,738, only 3.4% shy of its record high from 2021.

Altcoins running hot

In a separate X post, Mow predicted that Bitcoin could see a short-term price pullback as altcoins are running “too hot” as traders search for the next big crypto.

Notably, Bitcoin’s dominance has slipped below 60% for the first time since January. This comes as searches for “altcoin” on Google reached their highest since 2021, with “Ethereum” search interest hitting a two-year peak.

Institutional interest is also expanding in the altcoin market, as the US saw 31 altcoin ETF applications in just the first half of 2025.

The altcoin market cap has grown nearly 26% since reclaiming the $250 billion level. Historically, it often extends beyond but eventually fails at around $315 billion, according to crypto analyst Rekt Capital.

Analyst explains that altcoins must successfully flip the $315 billion level into solid support for a sustainable move higher.

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