Bitcoin, the world’s largest cryptocurrency by market value, hit a new all-time high on Sunday, rising nearly 2.7% to $125,245.57, according to a report by Reuters.
The previous record of $124,480, set in mid-August, was fueled by more crypto-friendly regulations introduced by the U.S. administration of President Donald Trump and strong institutional investor demand.
The cryptocurrency’s latest surge has been supported by recent gains in U.S. stock markets and inflows into Bitcoin exchange-traded funds (ETFs).
Meanwhile, the U.S. dollar weakened on Friday, marking multi-week losses against major currencies as uncertainty over a potential government shutdown clouded the outlook and delayed the release of key economic data such as payroll reports, which are crucial for assessing the direction of the U.S. economy.
