Bitcoin hits $125,000 as institutional investors go on buying spree
Bitcoin smashed through the $125,000 mark this Sunday, setting a new all-time high.
The jump was sparked by big institutional buyers, including Metaplanet's large purchase, and a technical breakout pattern called an inverse head-and-shoulders, which hints at a trend reversal.
With Metaplanet snapping up $600 million in BTC, supply is tighter and Bitcoin's market cap has climbed close to $2.3 trillion.
Factors driving the surge
With the US government in shutdown mode and the dollar losing steam, more investors are turning to Bitcoin as a hedge—kind of like digital gold.
Economic uncertainty is pushing people to look beyond traditional assets.
Citigroup even thinks Bitcoin could reach $181,000 in the next year if ETF inflows keep up.
What's happening in the market?
Most of the action comes from strong institutional demand through ETFs and company treasuries buying up coins.
Technical signals are also giving traders confidence.
Even though some short-term forecasts are cautious due to currency swings and softer gold prices, Bitcoin keeps drawing interest as markets stay unpredictable.