By Abiodun Abdullai
Bitcoin surged past the $125,000 mark on Sunday, setting a new all-time high amid investor caution over a possible US government shutdown and shifting sentiment toward safe-haven assets.
The cryptocurrency rose to $125,689, surpassing its previous August record of about $124,500. Analysts attribute the rally to strong momentum in the US equities market and growing interest in alternative assets as lawmakers continue negotiations over federal funding.
According to Bloomberg News, investors are increasingly turning to Bitcoin as a hedge amid concerns of dollar weakness and fiscal uncertainty.
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The renewed optimism also follows the Trump administration's pro-crypto stance, which has seen the US House of Representatives pass three landmark cryptocurrency bills in July—reversing years of regulatory scepticism under former President Joe Biden.
Industry experts say the shift in policy and broader appetite for alternative assets have both strengthened Bitcoin's appeal.
"With many assets including equities, gold and even collectibles like Pokémon cards hitting all-time highs, it's no surprise Bitcoin is benefiting from the dollar debasement narrative,"
Joshua Lim, co-head of markets at FalconX, told Bloomberg.
Bitcoin's sustained rally highlights the increasing mainstream acceptance of digital assets and the potential for further gains if global macroeconomic uncertainty persists.
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