Bitcoin Climbs Past $125K on $3.24B Spot ETF Inflows
Bitcoin (BTC) surged to a new all-time high above $125,000 on Sunday, pushing its weekly gains to 11%, according to CoinDesk data. The rally was supported by strong demand for U.S.-listed spot exchange-traded funds (ETFs), which saw $3.24 billion in net inflows for the week ended Oct. 3—the second-largest weekly inflow on record, data from SoSoValue shows.
Other major cryptocurrencies, including Ethereum (ETH), XRP, Solana (SOL), and Dogecoin (DOGE), followed Bitcoin’s momentum, posting gains of 1% to 3% during Asian trading hours.
Safe-Haven Demand Amid U.S. Government Shutdown
The ongoing U.S. government shutdown has fueled Bitcoin’s appeal as a safe-haven asset. Jeff Dorman, Chief Investment Officer at Arca, commented:
“The only time I buy BTC is when society loses faith in governments and local banks. BTC is likely a good buy here ahead of yet another U.S. government shutdown.”
Macro Factors Driving BTC Rally
Analysts highlight broader macroeconomic trends as additional drivers. Noelle Acheson, author of the Crypto Is Macro Now newsletter, said:
“Rising geopolitical risks, persistent U.S. inflation pressures, and growing global borrowing are intensifying currency concerns. Assets like BTC benefit from these conditions, especially given its current under-allocation.”
She added that measures such as lower interest rates, yield curve management, and ample liquidity are expected to channel more capital into riskier assets, including Bitcoin.
Looking Ahead
With October historically being a seasonally bullish month for cryptocurrencies, Bitcoin appears positioned for further gains. At the time of writing, BTC was trading near $124,080, according to CoinDesk.
