Bitcoin Hits All-Time High Above $125,000

Bitcoin, the world’s largest cryptocurrency by market value, surged to a record high on Sunday, rising about 2.7% to $125,245.57 at 0512 GMT.

The previous record, set in mid-August at $124,480, had been driven by favorable regulations introduced under U.S. President Donald Trump’s administration and strong demand from institutional investors.

The cryptocurrency extended its rally for the eighth consecutive session on Friday, supported by gains in U.S. equities and robust inflows into Bitcoin exchange-traded funds (ETFs).

In contrast, the U.S. dollar has been declining against major currencies for several weeks amid uncertainty surrounding a potential government shutdown and delays in key economic data releases, such as payroll figures, which are crucial for assessing the economy’s trajectory.