Bitcoin surged past $125,700 amid the US government shutdown, boosted by rising ETF inflows and renewed investor confidence.
Bitcoin reached a new all-time high of $125,700, according to Coinbase price data on TradingView, fueled by steady ETF inflows during the official US government shutdown. Analysts say the surge reflects a growing appetite for hedge assets like gold and Bitcoin amid rising macroeconomic uncertainty.
Meanwhile, Ethereum slipped 0.44% to $4,563, with other cryptocurrencies such as XRP, BNB, Solana, Dogecoin, and Cardano also showing mild declines. Despite short-term pullbacks, sentiment remains bullish as investors move coins off centralized exchanges—signaling long-term holding.
According to Glassnode, Bitcoin reserves on exchanges dropped to a six-year low of 2.83 million BTC, with over 114,000 BTC (worth $14B) withdrawn in just two weeks.
Experts point to a “dovish environment” of falling interest rates and rising gold prices, historically favorable for Bitcoin. Combined with its strong “Uptober” track record, the crypto market may be gearing up for another record-breaking quarter.
Discover more from DiutoCoinNews
Subscribe to get the latest posts sent to your email.
