Bitcoin has reached new all-time high values, surp

Bitcoin has reached new all-time high values, surpassing previous records set in August. The price surged, hitting $124,500 on Coinbase and peaking at $124,851 on Binance during Asian trading hours. This rally is attributed to substantial inflows into U.S.-listed spot Bitcoin ETFs, which recorded a net inflow of $3.24 billion in a single week. The price increase is also linked to safe-haven demand amid a U.S. government shutdown, with investors seeking decentralized assets as a hedge against political uncertainty. Additionally, macroeconomic factors such as potential increases in U.S. inflation, global borrowing, and overall market support are contributing to the upward trend. While on-chain data indicated that large holders (whales) were selling Bitcoin through September, selling pressure has eased in early October, suggesting a potential shift towards re-accumulation. Standard Chartered had predicted this surge and suggests Bitcoin could reach $135,000 soon. Other cryptocurrencies an