New Delhi, Oct 5: Bitcoin, the world’s largest cryptocurrency by market value, surged to a record high of $125,245.57 on Sunday, gaining nearly 2.7%.
As of 2:54 p.m., it traded at $124,353.96, up 1.55% intraday. This marked Bitcoin’s eighth consecutive session of gains, driven by positive momentum in U.S. equities and rising inflows into Bitcoin exchange-traded funds (ETFs).
Bitcoin’s previous high was $124,480 in mid-August, supported by friendlier regulations from the Trump administration and strong institutional interest. Recent tailwinds include the passage of stablecoin regulations and reforms by the US Securities and Exchange Commission (SEC) to accommodate digital assets, boosting investor confidence.
A weaker US dollar, which saw multi-week losses amid uncertainty over a potential government shutdown and delayed economic data, further supported Bitcoin’s rise.
Analysts linked the bullish trend to Bitcoin’s post-halving performance, historically seen as a catalyst for long-term price rallies.
Meanwhile, geopolitical developments may also play a role. Reports suggest the U.S. is warming ties with Pakistan through a crypto agreement involving Donald Trump’s family’s venture, World Liberty Financial (WLF), and military-linked funds. British-Pakistani entrepreneur Bilal bin Saqib, CEO of Pakistan’s new Crypto Council and special adviser on blockchain, also advises WLF — raising conflict-of-interest concerns.
In June 2025, Pakistan signed deals with WLF and Binance to advance blockchain infrastructure and promote decentralised finance (DeFi), signaling growing global institutional involvement in the crypto space. (IANS)
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