Bitcoin reaches all-time high! Largest crypto surpasses $125,000 mark; ‘debasement’ trade spurs risk rally
Bitcoin soared to a new all-time high on Sunday, breaking past the $125,000 mark as safe-haven demand surged.The world’s largest cryptocurrency reached $125,689 in Asia, driven by investor concerns over the US government shutdown. The cryptocurrency smashed its previous record of $124,514 set on August 14, boosted by gains in US stocks and fresh inflows into Bitcoin-linked exchange-traded funds.Investors believe that the government shutdown, which began on Wednesday, could push money into safe-haven assets, a trend market participants are calling the “debasement trade.”“With many assets including equities, gold and even collectibles like Pokemon cards hitting all time highs, it’s no surprise Bitcoin is benefitting from the…
