Bitcoin extended its summer rally on 7 August, briefly trading above $117,000 after reclaiming the $116,000 level a day earlier. Intraday quotes placed the largest digital asset at roughly $116,711, giving it a market capitalization of about $2.32 trillion. Derivatives activity has intensified alongside the spot advance. Estimated open interest in Bitcoin futures climbed to around $80 billion, the highest on record, signaling growing speculative positioning as traders anticipate further gains toward the next technical threshold near $118,000. Gains rippled across the broader crypto market. Solana touched $173 while Ether hovered near $3,800, extending a move that market watchers attribute to a broadening risk-on mood and momentum-driven buying.