 
 
The price of Bitcoin has been on a tear in recent days. The leading cryptocurrency continues to build on its record rally, climbing above the $125,000 milestone for the first time in its 17-year history.
BTC notched a new all-time high on Sunday morning, reaching a little over $125,506, according to CoinGecko data. Its previous record peak was $124,128 on August 14. The top crypto pulled back by over 13% by Sept. 1, but has rebounded strongly over the past week as ‘Uptober’ kicks off. Notably, October is a seasonally bullish month for the BTC price.
“Bitcoin hits new all-time high … And most people still don’t even know what Bitcoin is,” stated Nova Dius President Nate Geraci.
BTC was recently trading for $123,326 after giving up some of the gains. It’s up 1% on the day, and over 12.6% over the last week, CoinGecko data shows.
“If Bitcoin is able to convincingly break $126,500, then chances are price will go a lot higher and quickly,” popular analyst Rekt Capital opined on Saturday, before the Sunday ATH.
 
Spot BTC ETFs Score Their Second-Largest Weekly Inflow
A combination of favorable macroeconomic conditions and surging institutional interest in Bitcoin has served the crypto asset well throughout the year.
The latest explosive surge to a new record high followed huge demand for U.S.-listed spot exchange-traded funds (ETFs), which collectively drew in $3.24 billion in net inflows last week. This represented their second-highest inflow week since the funds began trading in January 2024, according to data provider SoSoValue.
BlackRock’s iShares Bitcoin Trust (IBIT) captured the majority of last week’s net inflows, taking in $1.8 billion, the data shows. IBIT recently entered the top 20 ETFs by assets for the first time, hitting $90.7 billion. Meanwhile, Fidelity’s FBTC, the second-biggest BTC ETF by net asset value, attracted $692 million.
The partial shutdown of the U.S. government on Oct. 1 may also be contributing to the BTC rally. It sparked speculation that the Federal Reserve may eventually be forced to stimulate the economy further and slash interest rates through the rest of the year, which could boost risk assets, including cryptocurrencies.