Bitcoin extended its weekend advance on Monday, briefly trading above $122,000 and moving within 1 percent of the record $123,092 set on 14 July. The world’s largest digital asset has gained about 3 percent in the past 24 hours, lifting its market capitalisation to roughly $2.4 trillion—enough to edge past Amazon in global asset rankings. The rally has been broader than Bitcoin. Ether rose as much as 2.6 percent to about $4,335, its highest level since December 2021 and roughly 12 percent below its November 2021 peak. The rebound in the two largest tokens pushed the combined value of digital assets above $4 trillion for the first time, according to CoinMarketCap. On-chain and fund-flow data point to renewed institutional demand. CoinShares said crypto investment products took in a net $572 million last week, including $461 million for Ether and $403 million for Bitcoin ETFs. Separately, blockchain-analysis firm Lookonchain tracked an unidentified buyer that amassed more than 221,000 ETH—about $947 million—over the past week, while BitMEX co-founder Arthur Hayes repurchased 1,500 ETH worth roughly $6.35 million. Gains in the spot market were echoed in equities: Coinbase Global climbed roughly 4.7 percent in pre-market trading, while Bitfarms and other miners rose about 4 percent. Traders are now focused on Tuesday’s U.S. consumer-price report; a softer inflation reading could reinforce bets on a Federal Reserve rate cut in September, potentially providing additional support for risk assets, including cryptocurrencies.