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Bitcoin surged to a new all-time high in Asian trading on Sunday, climbing to $125,296.58 and surpassing its previous record set in mid-August, reaffirming its position as the world’s largest and most valuable cryptocurrency by market capitalization.
As of 08:25 GMT, Bitcoin was trading at around $124,801. The latest rally has been fueled by growing institutional interest and optimism over more crypto-friendly regulatory signals from the U.S. administration.
The token had already shown momentum late last week, briefly crossing $121,000 on Thursday and ending Friday up 0.75% at $120,350 — its highest level in seven weeks.
Bitcoin has rebounded nearly 10% over the past week after September’s sharp selloff, which saw billions in leveraged positions wiped out.
The recent upswing also aligns with “Uptober,” a term popular among crypto traders referring to October’s historically strong performance for digital assets.
Forecasts and Analysis
Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered, said Bitcoin could extend its rally toward $135,000.
Meanwhile, Citigroup revised its year-end forecast, now expecting the cryptocurrency to reach $133,000 by the end of 2025 — roughly 12% above recent trading levels near $118,747. The bank also raised its outlook for Ethereum to $4,500, up from $4,375 previously.
This article has been published in investing.com via Yahoo News.
