Bitcoin, the world’s largest cryptocurrency by market capitalization, surged to a new record high on Sunday, reaching US$125,245.57 at 09:30 CAT, marking a 2.7% increase from the previous day. This milestone surpasses its earlier peak of US$124,480, recorded in mid-August.
The recent rally has been fueled by a combination of factors, including supportive regulatory signals from the administration of U.S. President Donald Trump, which have bolstered investor confidence. Additionally, strong demand from institutional investors has played a significant role in driving prices upward.
Bitcoin’s momentum continued into Friday, marking its eighth consecutive day of gains. Analysts attribute this sustained upward trend to the positive performance of U.S. equity markets and increased capital inflows into Bitcoin-focused exchange-traded funds (ETFs), indicating growing mainstream acceptance of the digital asset.
In contrast, the U.S. dollar weakened on Friday, posting multi-week losses against major global currencies. This decline was largely due to uncertainty surrounding a potential U.S. government shutdown, which has delayed the release of key economic indicators such as payroll data—critical for assessing the health and direction of the U.S. economy.
