Bitcoin Hits All-Time High Above $125,000

Bitcoin, the world’s largest cryptocurrency by market value, hit a record high on Sunday, rising nearly 2.7% to $125,245.57 at 0512 GMT, Anusha Shah reported for Reuters.

This was the eighth straight session that the cryptocurrency rose.

Bitcoin’s previous record of $124,480, set in mid-August, was driven by friendlier regulations from U.S. President Donald Trump’s administration and strong demand from institutional investors.

The cryptocurrency rose on Friday for an eighth straight session, supported by gains in U.S. equities and continued inflows into bitcoin exchange-traded funds (ETFs).

In contrast, the U.S. dollar retreated on Friday, posting multi-week losses against major currencies as uncertainty surrounding a potential U.S. government shutdown clouded the outlook and delayed key data releases such as payrolls, which are critical for assessing the economy’s direction.