New York (TDI): Bitcoin extended its recent rally on Sunday, climbing to a fresh record high above $125,000 amid renewed investor optimism and global market uncertainty.
The world’s largest cryptocurrency touched $125,689, surpassing its previous peak of about $124,500 reached in August.
The latest surge builds on weeks of upward momentum as traders continue to view digital assets as an alternative hedge while political wrangling in Washington raises fears of a potential US government shutdown.
The bitcoin’s rise has been further buoyed by gains in US equity markets, with investors diversifying into so-called safe-haven assets as lawmakers debate federal spending measures.
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Adding to the crypto sector’s confidence, US President Donald Trump, a long-time supporter of digital assets, has played a major role in reshaping Washington’s stance on cryptocurrencies.
His administration’s friendly posture marks a sharp shift from the scepticism seen under former president Joe Biden.
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Earlier this year, the US House of Representatives passed three key cryptocurrency bills aimed at regulating and promoting innovation in the sector, a move that has been widely credited for driving Bitcoin’s latest price surge.
