bitcoin punched to an all-time high of $125,689 in Asian trade on October 5, lifting its total market value above $2.5 trillion and vaulting past Amazon to become the world’s seventh-most-valuable asset.
The new peak eclipsed the prior record of $124,514 set on August 14 and came three days after a partial U.S. government shutdown began. Traders cited a classic flight-from-dollar trade, steady inflows into spot bitcoin ETFs, and routine month-end institutional buying. October has historically delivered outsized gains for the token, a pattern enthusiasts label “Uptober.”
The shutdown matters this time around.
JPMorgan raised its year-end target to $165,000, while Standard Chartered’s Geoff Kendrick expects $135,000 in short order and $200,000 before 2026. Bitcoin hovered near $125,000 in the following session; regulators have not yet commented.