FX.co ★ Bitcoin Hits New All-Time High

In early October, Bitcoin surged to a record high of almost $126,000, driven by global economic uncertainty and the ongoing US government shutdown, which intensified the demand for this prominent cryptocurrency. The shutdown has disrupted key federal operations and postponed significant data releases, such as the September jobs report that was initially scheduled for Friday. Market sentiment was further boosted by the anticipation of additional rate cuts from the US Federal Reserve, with traders largely expecting a quarter-point reduction this month followed by another in December. The rally was also supported by robust inflows into US-listed spot Bitcoin ETFs, which saw a total net inflow of $3.25 billion last week.