TOKYO – Bitcoin achieved a ‍notable milestone on Sunday, surging past the ⁢US$125,000 threshold and​ establishing⁤ a new all-time high. The leading cryptocurrency reached US$125,689, surpassing its previous peak of approximately US$124,500 recorded in August.

factors Fueling the Rally

The recent upward momentum in⁣ Bitcoin’s ⁣price is attributed to a confluence of factors,⁢ notably⁤ growing investor‌ apprehension surrounding the potential united States government shutdown. As US lawmakers grapple with federal funding negotiations, investors are‍ increasingly turning to perceived safe-haven assets.

Positive performance in US stock markets has also contributed to the bullish sentiment surrounding⁣ Bitcoin. Bloomberg News reports that this combination⁤ of factors is driving demand for alternative investments.

Trump’s Embrace ‌of Crypto

A notable shift in the political landscape surrounding cryptocurrencies has also played a role. Former US President Donald Trump and his family have become prominent advocates for digital assets, actively participating in various crypto ventures that have reportedly increased his personal wealth.

This⁤ support represents a reversal of the more cautious approach towards the crypto industry adopted during the management of his predecessor,Joe Biden. In July, the US House of Representatives passed three ‍significant bills aimed at regulating the cryptocurrency market, signaling a ⁢potential easing⁣ of restrictions.

Analyst Perspective

News">

“With many ‌assets,including⁢ equities,gold ⁢and even collectables like Pokemon cards hitting all-time ⁤highs,it’s⁤ no surprise Bitcoin is benefiting ​from the dollar debasement narrative,”

Joshua Lim,Co-Head of‍ Markets at FalconX

Joshua Lim’s⁣ observation,as reported ​by Bloomberg News,highlights the broader trend of investors seeking alternatives to traditional assets amid concerns about currency ‍devaluation.

Recent Bitcoin Price History

⁤ ⁣

Share this:

• Facebook
• X