With the help of ETF inflows, robust institutional investor demand, and confidence about U.S. policy, Bitcoin reached a new all-time high of $125,245.
The biggest cryptocurrency in the world by market value, Bitcoin, reached a new high on Sunday and was up about 2.7% at $125,245.57 at 0512 GMT.
U.S. President Donald Trump’s administration’s more lenient rules and robust institutional investor demand helped push Bitcoin to its previous high of $124,480 in mid-August.
Due to recent increases in U.S. stocks and inflows into bitcoin exchange-traded funds, the cryptocurrency rose on Friday for the eighth consecutive session.
The uncertainty around a U.S. government shutdown, on the other hand, obscured the outlook and delayed important data releases, such as payrolls, which are crucial for determining the direction of the economy. As a result, the U.S. dollar declined on Friday, marking multi-week losses versus major currencies.