Bitcoin Price Analysis: BTC Surges To New All-Time High, Shatters $125,000 Ceiling

Bitcoin (BTC) shattered the $125,000 ceiling, powering to a new all-time high of $125,559. The flagship cryptocurrency started the weekend above the $120,000 mark, trading between $121,000 and $122,000. However, bullish sentiment picked up as the price rallied on Sunday, reaching a new high of $125,559. Bitcoin exchange balances also fell to a six-year low as $14 billion was removed from centralized exchanges over the past ￰0￱ ETFs Register Second-Best Week On Record US spot Bitcoin ETFs started October with their second-best week of inflows since their launch, as investor optimism ￰1￱ ETFs registered a staggering $3.24 billion of net positive inflows over the past week, almost breaking the record of $3.38 billion recorded in the week ending November 12, ￰2￱ inflows are a sharp rebound from last week’s $902 million in net ￰3￱ have attributed the return of positive sentiment to growing expectations of a rate cut, which has improved sentiment towards risk ￰4￱ Kalchev, analyst at Nexo, stated, “Growing expectations of another US interest rate cut triggered a “shift in sentiment,” attracting renewed investor demand for Bitcoin ￰5￱ current run-rates, Q4 flows could retire over 100,000 BTC from circulation — more than double new ￰6￱ absorption is accelerating while long-term holder distribution eases, helping BTC build a stronger base,” near key technical support levels.” CleanSpark Sells $48.7M In Bitcoin Bitcoin miner CleanSpark ended September with 13,011 ￰7￱ company reported a monthly production increase of 27%, with 629 Bitcoin mined for $48.7 million at an average price of $109,568.

CleanSpark added that its fleet efficiency improved 26% year-over-year, while average operating hashrate was 45.6 EH/s. The miner has also been selling part of its Bitcoin production since April as part of a push to become ￰8￱ has also opened an institutional Bitcoin trading desk to facilitate ￰9￱ company generated $60.7 million in sales in August after selling 533.5 ￰10￱ (BTC) Price Analysis Bitcoin (BTC) surged to a new all-time high on Sunday, crossing $125,000 and reaching $125,559 before declining to current ￰11￱ new record came on Sunday morning, beating its previous record of $124,500 on August ￰12￱ Geraci commented on the developments, stating, “Bitcoin hits new all-time high … And most people still don’t even know what Bitcoin ￰13￱ Bitcoin is able to convincingly break $126,500, then chances are the price will go a lot higher and quickly.” Anthony Pompliano, entrepreneur and investor, stated, “Bitcoin crossed $125,000 ￰14￱ is poetic because the new all-time high happened while many people were sleeping, just as many people are still sleeping on the importance of a digital, finite store of value in a world defined by currency debasement.” Meanwhile, the Bitcoin exchange balance on centralized exchanges fell to a six-year low of 2.83 million ￰15￱ last time there were lower coins on centralized exchanges was in June 2019, when Bitcoin traded around $8,000.

According to Glassnode, over 114,000 BTC have left exchanges over the past ￰16￱ moving off centralized exchanges and into self-custody is usually interpreted as a bullish indicator, and suggests investors plan to keep their coins long-term rather than sell them. VanEck’s head of digital asset research, Matthew Sigel, stated, “Hearing exchanges are out of Bitcoin. Monday, 9:30 am, might be the first official ￰17￱ financial advice… just: it might make sense to get some.” BTC started the previous weekend with a marginal drop on Saturday before rising over 2% on Sunday and settling at $112,197. Buyers retained control on Monday as the price rose almost 2% to cross $114,000 and settle at $114,365.

Despite the positive sentiment, BTC fell to a low of $112,695 on Tuesday. However, it recovered from this level to settle at $114,067, ultimately registering a marginal ￰18￱ sentiment returned on Wednesday as BTC rallied, rising over 4% to cross $118,000 and settle at $118,659. Buyers retained control on Thursday as the price rose 1.65% to reclaim $120,000 and settle at $120,621.