Bitcoin, the world’s largest cryptocurrency by market value, shattered its previous record. It soared to an all-time high of $125,245.57 around noon on October 5th. This surge marks a significant moment for digital assets.
This new peak outdid its prior record of $124,480. That earlier high happened in mid-August. At that time, the US government began taking friendlier stances towards Bitcoin owners. There was also a growing appetite from big institutional investors. These factors drove up demand.
Looking at recent market activity, Bitcoin has shown strength. It recorded gains for eight trading sessions in a row. This comes as the value of US assets climbs. More money is also flowing into various crypto funds. These trends together signal a bullish market for digital currencies.
Meanwhile, the US dollar has been slipping. Its value dropped again on Friday, October 3rd. This marks several weeks of declines for the dollar. News reports from Reuters link this slide to ongoing uncertainty. This uncertainty stems from a budget payment suspension by Congress. Disagreements on policy between the two main political parties caused the halt.