[Market] Bitcoin briefly surpasses 125,000 dollars...records an all-time high

Bitcoin (BTC) price has surpassed 125,000 dollars and set a new record high.

According to Binance on the 5th, as of 1:50 p.m., bitcoin was trading at 125,568 dollars (178,380,000 won on Upbit), up 2.47% from the previous day. Intraday, bitcoin reached a record high of 125,708 dollars.

According to crypto asset data platform Cryprice, bitcoin's kimchi premium was recorded at 1.12% that day. This means it is trading at a slightly higher price on domestic exchanges compared to the global market.

Just a week earlier, bitcoin had remained in the 100,000 dollar range, but after the U.S. federal government's shutdown (temporary suspension of operations) took effect, buying inflows surged and it recovered to the 120,000 dollar level in a short time. Market analysts say the disruption of government functions is weighing on confidence in the dollar, causing funds to move into bitcoin, gold and other 'alternative stores of value'.

Bloomberg reported that Wall Street investors are interpreting this flow as a 'Debasement Trade.' This refers to the phenomenon in which assets move from the dollar into bitcoin or gold as concerns about currency devaluation grow. They explain that as fiscal uncertainty expands, dollar weakness worsens and alternative assets like bitcoin benefit.

CNBC also reported that major investors are increasing allocations to nontraditional assets such as gold and crypto assets to hedge political and economic risks.

Seasonal factors are also supporting the uptrend. There is strong anticipation for 'Uptober,' when bitcoin tends to be strong every October. In fact, bitcoin has posted gains in October in 9 of the past 10 years.