Bitcoin (BTC) hit a fresh all-time high of $126,223 on Monday, extending weekly gains to 15% as a combination of macro factors—U.S. government shutdown, a weaker dollar, and strong ETF inflows—propelled the rally. At press time, BTC trades near $124,000, lifting the broader crypto market.
Exchange Balances Near Six-Year Low
BTC reserves on exchanges have fallen to 2.83 million, the lowest in six years, with 170,000 BTC withdrawn in the past month. The decline indicates growing long-term holding and a tightening supply, supporting further upward momentum.
Global and Regional Milestones
Bitcoin broke records in euros (EUR 106,000) and Swiss francs (CHF 99,600). In Japan, optimism over potential Abenomics-style policy under the new prime minister is adding regional bullish pressure, signaling easier liquidity conditions ahead.
Altcoins Follow BTC Higher
Ethereum (ETH) rose 4% to $4,700, eyeing $4,800–$5,000, while Binance Coin (BNB) gained more than 20% to surpass $1,240. Dogecoin (DOGE) climbed 6% to $0.26, XRP neared $3, and Solana (SOL) added over 12% over the past week. Total crypto market capitalization peaked at $4.27 trillion before easing slightly to $4.24 trillion, with sentiment at 71 (greed), indicating continued bullish potential without reaching euphoria.
Institutional ETFs Power the Rally
U.S.-listed spot ETFs registered $3.2 billion in weekly inflows—the second-largest on record—bringing total allocations since January above $60 billion, according to SoSoValue. Ryan Lee, chief analyst at Bitget, noted, “Bitcoin’s move above $124,000 reflects deepening institutional conviction and a maturing market narrative.”
Political and Economic Drivers
The ongoing U.S. government shutdown has stalled key economic reports, pushing investors toward hard assets such as BTC and gold. The softer dollar and expectations for a more cautious Federal Reserve reinforce the bullish case.
Critical Support Level
$125,000 now serves as a key support zone, acting as a psychological anchor for bulls and a potential springboard for further upside.
