Bitcoin Shatters Records, Surging to $125,689 Amid US Government Shutdown
Bitcoin Shatters Records, Surging to $125,689 Amid US Government Shutdown
Bitcoin has made headlines once again, setting an unprecedented all-time high of $125,689 earlier today. This monumental surge, observed on Sunday in Asian trading, eclipses its previous record established on August 14. The world’s largest cryptocurrency is experiencing a robust rally, propelled by a wider risk-on sentiment and a resurgence of investor inflows.
Market analysts are largely attributing this significant price climb to the ongoing US government shutdown, which began on Wednesday. Investors, seeking stability amidst the uncertainty, are increasingly flocking to Bitcoin as a perceived safe-haven asset, participating in what market participants are terming the ‘debasement trade.’ This flight to crypto is further reinforced by an uptick in US equities and sustained inflows into Bitcoin-linked exchange-traded funds, underscoring strong and renewed confidence in its market position.
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