Bitcoin crossed the US$125,000 barrier – the price on the Bitstamp platform reached US$125,426, although it later stabilised slightly below this level.
Behind this record, however, is not just retail speculation, but the increasingly pronounced involvement of institutional capital. In recent days, more than US$3bn of new money has entered spot Bitcoin ETFs – the most extensive weekly inflow in 2025. This allows institutions to build exposure to Bitcoin without buying it outright, further increasing liquidity and reducing the fraction of transition costs.
Macro factors are also working to push prices higher. The political impasse in the United States, including the suspension of federal funding, reinforces concerns about the stability of the budget and the dollar, thus benefiting from the strategy of “debasement trade” – the transfer of capital into assets resistant to the devaluation of fiat currencies. There is a growing belief among analysts that the Federal Reserve may begin monetary easing in the coming months, further stimulating risk appetite.
Added to this is the cultural seasonal factor: the phenomenon known as the ‘Uptober’ – the historical uptrend in October – often fuels the growth narrative in the cryptocurrency community. Since 2013, bitcoin has only seen declines in October in 2014 and 2018.
Currently, Bitcoin’s market capitalisation is approaching US$2.5 trillion, with the entire cryptocurrency market oscillating around US$4.3 trillion.
However, the risk space has not disappeared. According to analysts, the market is approaching the late stage of the cycle – the key question is whether institutional inflows and further technology adoption will be enough to counteract any macro shocks or corrections in global markets.
In short: we are witnessing the evolution of Bitcoin – from a peripheral asset to a role as a global macroeconomic instrument. But whether the wave of durability and resilience will withstand the clash with the realities of global markets – that question remains open.
