Bitcoin is once again at the center of attention in Asian trading: on Sunday, Bitcoin’s price hit an all-time high of $125,296.58, surpassing its August record. Shortly after the spike, the flagship cryptocurrency slipped to $124,801.
The main driving forces behind Bitcoin’s surge are the growing interest from institutional investors and renewed expectations of more crypto-friendly steps from President Donald Trump’s administration. It seems Bitcoin is finally sensing some support from the highest levels.
The rally began last week: on Thursday, the coin briefly climbed above $121,000, and on Friday it closed the day at $120,350 (+0.75%) — its best performance in seven weeks. Over the past week alone, Bitcoin has gained nearly 10%, bouncing back after the sell-off in September, which saw leveraged positions worth billions liquidated. For the crypto market, such shakeouts are almost routine.
This cryptocurrency growth coincides with the arrival of “Uptober” — the term traders use to describe October, traditionally a strong month for digital assets. Traders are quick to point out: historically, charts tend to behave especially optimistically this time of year.
Jeff Kendrick, Global Head of Digital Assets Research at Standard Chartered, is already hinting: Bitcoin might not stall at $125,000 and could very well pave the way toward $135,000 — a prospect that sounds like extra fuel for patience to the true HODLl enthusiasts.
Meanwhile, analysts have adjusted their forecasts: the bank now expects Bitcoin to reach $133,000 by the end of 2025, roughly 12% above current levels (around $118,747). Ethereum has not been forgotten either — its year-end target has been raised to $4,500, up from the previous $4,375 forecast. All in all, October has kicked off on a strong note for the crypto market.
