Breaking: Bitcoin Hits New ATH Above $125k as ‘Uptober’ Kicks Off in Full Force
Highlights
- Bitcoin rose from an intra-day low of $121,577 to reach a new ATH of $125,500.
- This comes as several factors spark renewed bullish sentiment in the crypto market.
- Experts predict that the flagship crypto could reach as high as $200,000 by year end.
The Bitcoin price has hit a new all-time high, after staging a monstrous rally since the start of October, climbing above its previous ATH of $124,400. This comes as market participants look forward to several bullish market catalysts that could happen in this fourth quarter.
Bitcoin Price Hits New ATH Amid ‘Uptober’ Excitement
TradingView data shows that the flagship crypto has hit a new ATH of $125,500, rising from an intra-day low of around $121,500. This has come amid the ‘uptober’ excitement, with BTC already up over 6% to start this month, which is its best second-best performing month based on historical data.
This Bitcoin price rally comes just less than two months following its run to its previous ATH of $124,400 in August, which came as market participants priced in the first rate cut of the year, which happened at the September FOMC meeting. Now, just as during that period, the market appears to be pricing in another Fed rate cut at the upcoming FOMC meeting this month.
As CoinGape reported, there is currently around a 97% chance that the Fed will make a 25 basis points (bps) rate cut at the upcoming meeting. This looks more than likely due to the softening labor market.
Meanwhile, CoinGape also reported that the Bitcoin ETFs have seen renewed interest, recording their largest weekly inflows of the year last week, with $3.24 billion flowing into these funds. As such, this demand from institutional investors has also contributed to the Bitcoin price rally to a new ATH.
With its rally above $125,000, BTC now boasts a market capitalization of $2.5 trillion and is the seventh-largest asset, just behind silver. The flagship crypto is well ahead of ‘Mag 7’ stocks, Meta and Amazon, which currently boast a market cap of $1.78 trillion and $2.3 trillion, respectively.
$148 million in BTC positions have been liquidated in the last 24 hours amid the Bitcoin price rally to a new all-time high, according to CoinGlass data. $132 million was short positions, while $16 million were long positions.
- 99.3% of Bitcoin Supply in Profit, Analyst Warns of Short-Term Correction
- Pro-Crypto Mike Selig Emerges As CFTC Chair Frontrunner, Gains Ripple CLO’s Endorsement
- ‘Every Crypto ETF You Can Imagine’: Expert Predicts Flurry of Filings After REX-Osprey’s 21 Applications
- Robinhood Lists Strategy’s Bitcoin-Backed Stocks, Boosting Saylor’s BTC Credit Model
- Bitcoin ETFs See 2025 Record Weekly Inflows of $3.2B as BTC Eyes New ATH
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
