\n The largest digital-asset climbed to $125,689 over the weekend.\n <\/p>\n
by\u202fSuvashree Ghosh and Sidhartha Shukla\u00a0<\/p>\n
Bitcoin set a fresh record on Sunday for the first time since mid-August, as the US government shutdown drove investors to safe-haven assets in a migration\u202fdubbed\u202fthe \u201cdebasement trade.\u201d\u202f\u00a0<\/p>\n
The largest digital-asset climbed to $125,689 over the weekend and remained in touching distance of its all-time high on Monday morning in London at about $124,000, according to data compiled by Bloomberg.\u00a0<\/p>\n
Bitcoin\u2019s advance coincided with a US government shutdown that began on October 1 and has helped fuel demand for perceived safe-haven assets. The closure scuppered the planned publication of key economic data, including nonfarm payrolls. Gold\u202fsurged\u202fto a record above $3,900 per ounce on Monday, extending a months-long rally.\u00a0<\/p>\n
Investors poured $3.2 billion into a group of 12 US Bitcoin exchange-traded funds last week, the second-highest haul since they launched in 2024. Meanwhile, the notional open interest on BlackRock\u2019s iShares Bitcoin Trust ETF rose to a record $49.8 billion on Friday, data compiled by Bloomberg show.\u00a0<\/p>\n
The total open interest on Deribit, a popular crypto derivatives exchange, and IBIT combined is now approaching the $80 billion mark, roughly ten times early-2024 levels, with most of that coming in the past six months, David Lawant, head of research at FalconX wrote in a Monday note.\u202f\u00a0<\/p>\n
\u201cOption market dynamics are likely shaping the underlying market price action more than ever before,\u201d he added.\u202f\u00a0<\/p>\n
From here, traders expect to see resistance at $135,000, with $150,000 \u201cin sight if momentum holds,\u201d said Rachael Lucas, analyst at BTC Markets. \u201cBut with leverage building, any sharp reversal could trigger volatility.\u201d\u00a0<\/p>\n
Options markets are \u201cskewing bullish\u201d with over 60% of open interest in call options, a state of play \u201cthat reflects strong conviction but also raises the risk of liquidation cascades if momentum stalls,\u201d Lucas added.\u00a0<\/p>\n
October \u2014 often trumpeted as \u201cUptober\u201d by crypto traders \u2014 has historically been Bitcoin\u2019s best-performing month. The token has delivered average gains of about 22.5% in October over the past decade, according to data compiled by Bloomberg.\u00a0<\/p>\n
Ether, the second-largest digital asset, was relatively unchanged at $4,560 as of 7:49 a.m. in London on Monday. XRP was steady at just shy of $3.\u202f\u00a0<\/p>\n
\u00a9\u202f2025\u202fBloomberg L.P.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"The largest digital-asset climbed to $125,689 over the weekend. by\u202fSuvashree Ghosh and Sidhartha Shukla\u00a0 Bitcoin set a fresh…\n","protected":false},"author":2,"featured_media":57443,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[114,85,46,190],"class_list":["post-57442","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-business","tag-il","tag-israel","tag-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/57442","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=57442"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/57442\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/57443"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=57442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=57442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=57442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}