Bitcoin surged to a new record high on Sunday, surpassing the $125,000 mark amid strong investor confidence and growing optimism around the cryptocurrency market.
The world’s largest digital currency climbed to $125,689, breaking its previous record of around $124,500 set in August.
Analysts attribute the latest rally to heightened investor caution over a potential U.S. government shutdown, which has led traders to seek safe-haven assets such as cryptocurrencies, Bloomberg News reported. Gains in U.S. equities have also supported Bitcoin’s momentum.
The administration of U.S. President Donald Trump has been notably supportive of the crypto sector, reversing years of regulatory scepticism seen under his predecessor Joe Biden. The U.S. House of Representatives passed three landmark cryptocurrency bills in July, boosting market confidence and contributing to the asset’s recent surge.
“With many assets including equities, gold, and even collectibles like Pokémon cards hitting all-time highs, it’s no surprise Bitcoin is benefiting from the dollar debasement narrative,” Joshua Lim, co-head of markets at crypto prime brokerage firm FalconX, told Bloomberg News.
Bitcoin has now gained more than 40 percent since the start of the year, underscoring renewed enthusiasm among institutional and retail investors alike.
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