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Bitcoin Makes New All-Time High at $125k, Amid Record ETF Flows
- Bitcoin reached a new all-time high of US$125,559, pushing the total crypto market capitalisation to US$4.22 trillion during “Uptober”.
- BTC’s market cap of US$2.46 trillion makes it the seventh-largest asset globally, surpassing Amazon and trailing just behind silver, with analysts suggesting significant room for growth.
- Twitter analyst CrediBULL Crypto predicts Bitcoin’s next leg will reach US$150k, with any pullbacks to US$108–118,000 presenting strong demand zones before higher prices.
- US spot Bitcoin ETFs recorded US$3.23 billion in weekly inflows, now holding 6.3% of all BTC, with BlackRock alone controlling 3.68% and US funds dominating 89% of the global BTC ETF market.
Uptober is in full swing: Bitcoin has just made a new all-time high at US$125,559 (AU$189,929) and, with it, has lifted the whole crypto market. Although sentiment seems muted – with the Fear and Greed Index at 59, or neutral – the total market cap now sits at US$4.22 trillion (AU$6.38 trillion).
With BTC’s market cap at US$2.46 trillion (AU$3.72 trillion), it has become the seventh-largest asset globally, ahead of Amazon and just behind silver. Analysts at The Kobeissi Letter said that “it’s still early”, as BTC still has room to grow to reach parity with gold amid a decline in the role of the US dollar.
As we enter the new era of monetary policy, gold and Bitcoin are thriving as the USD declines.
The Kobeissi Letter So, how high can BTC still go? Twitter analyst CrediBULL Crypto, who has almost half a million followers, has set his sights on the US$150k (AU$227.2k) target.
He wrote that he believes the next leg of the bull run is underway, declaring, “We blast through it… the next leg to 150k+ has begun.”
He noted that any pullbacks into the US$108–118k (AU$163–178k) zone would likely become strong demand areas as traders close underwater shorts, calling potential dips there “a blessing” before the move to higher highs.
Related: DefiLlama Delists Aster’s Perp Volume Amid Suspicions of Wash Trading
US Spot BTC ETFs See Massive Weekly Inflows
Meanwhile, US spot Bitcoin exchange-traded fund (ETF) flows had a huge week. A whopping US$3.23 billion (AU$4.89 billion) in net inflows entered the funds over the five trading days last week, data from Farside shows.
This means the US funds now hold 6.3% of all BTC – 1,325,878 coins currently valued at US$163.66 billion (AU$247.86 billion).
BlackRock alone accounts for 3.68% of all BTC, holding 773,461 BTC worth US$95.47 billion (AU$144.58 billion). The fund is one of the fastest-growing ETFs in history.
It also shows that the US is dominating the BTC ETF market. US ETFs account for an 89% share. Outside the US, Canada and Switzerland are among the larger holders, though still dwarfed by their American counterparts.
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Related: Samsung and Coinbase Join Forces to Bring Crypto Trading to 75 Million Galaxy Devices
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
