NEW YORK; Bitcoin, the world’s largest cryptocurrency by market value, reached a new record high on Sunday, climbing nearly 2.7% to $125,245.57.
This surpasses its previous peak of $124,480, recorded in mid-August. The earlier rally was fueled by friendlier regulations under US President Donald Trump’s administration and a wave of institutional investment.
Bitcoin has now posted gains for eight consecutive sessions, supported by recent strength in US equities and increased inflows into Bitcoin exchange-traded funds (ETFs).
While the cryptocurrency continued to surge, the US dollar weakened on Friday, marking multi-week losses against major global currencies. This downturn came as uncertainty over a potential US government shutdown weighed on investor sentiment and delayed key economic data releases, including payroll figures, which are essential for assessing the economic outlook.
Market analysts say the combination of regulatory optimism, ETF inflows, and a softening dollar has created a favorable environment for Bitcoin’s rise to fresh highs.
