Bitcoin Surges to Record High of USD125,000
(MENAFN) Bitcoin, the largest cryptocurrency globally, surged to a historic peak of $125,245.57 on Sunday, marking its first-ever breach of the $125,000 mark and a gain of nearly 2.7%. This new high, recorded at 0512 GMT, eclipsed its previous record of $124,480 set just weeks ago in mid-August.
The digital asset's upward momentum continued for an eighth consecutive session on Friday, buoyed by robust performance in U.S. equities and growing investments in Bitcoin exchange-traded funds.
Simultaneously, the U.S. dollar weakened, falling to its lowest level in weeks against major currencies, as concerns over a potential government shutdown and delays in crucial economic data mounted.
October has historically been a strong month for Bitcoin, with this year’s rally driving its value up by more than 30%.
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