Bitcoin surged past $125,000 for the first time on Sunday as investors sought refuge from the United States government shutdown and responded to President Donald Trump's embrace of digital assets. The cryptocurrency reached a peak of $125,689 in Tokyo trading, surpassing its previous record of approximately $124,500 set in August. Market analysts attribute the rally to political uncertainty in Washington, where lawmakers remain deadlocked over federal funding.
Trump's administration has reversed years of regulatory skepticism toward cryptocurrencies, and the president has become a prominent advocate for digital assets. The House of Representatives passed three bills in July to create clearer regulatory frameworks for the industry, which Bloomberg News identified as a primary catalyst for Bitcoin's climb. Joshua Lim from FalconX noted that many assets are reaching record highs amid concerns about dollar debasement, and Bitcoin benefits from this broader trend of asset inflation across markets.
Trump's administration has reversed years of regulatory skepticism toward cryptocurrencies, and the president has become a prominent advocate for digital assets. The House of Representatives passed three bills in July to create clearer regulatory frameworks for the industry, which Bloomberg News identified as a primary catalyst for Bitcoin's climb. Joshua Lim from FalconX noted that many assets are reaching record highs amid concerns about dollar debasement, and Bitcoin benefits from this broader trend of asset inflation across markets.
