Bitcoin hits all-time high above $125,000

Bitcoin Reaches New All-Time High Above $125,000
On October 5, Bitcoin reached a new all-time high, rising to $125,708.
BTC/USDT daily chart on Binance. Source: TradingView.

At the time of writing, the price had corrected slightly to $124,900. Over the past seven days, the leading cryptocurrency has risen by 14%.

Meanwhile, other digital assets showed a moderate reaction to BTC's new all-time high. Ethereum rose to $4,600 but then returned to $4,500.
Solana gained 2.5% in 24 hours, reaching $235, while Dogecoin rose to $0.26 (+2.3%).

Over the past 24 hours, the total volume of market liquidations amounted to $345 million, of which $220 million was accounted for by short positions.

Market and Analyst Reactions
A crypto analyst nicknamed Rekt Capital stated that if Bitcoin breaks through $126,500, it has every chance of going even higher—and quite quickly.

Nova Dius Wealth President Nate Geraci commented on the situation with a hint of irony:

"Bitcoin has set a new record... And most people still have no idea what that even means."

According to Glassnode, the supply of Bitcoin on centralized exchanges has fallen to a six-year low of 2.83 million BTC. Over the past month, approximately 170,000 BTC have been withdrawn from exchanges.

Matthew Siegel, head of digital asset research at VanEck, noted that "exchanges are gradually being drained of Bitcoin." He believes the market could face an official shortage as early as Monday, October 6.

"This isn't financial advice, but it might be time to think about buying some coins," the expert added.

Investor and trader Mike Alfred shared a conversation with a major over-the-counter trading executive. According to him, at current volumes, exchanges could completely deplete their BTC reserves within two hours of the futures trading open on Monday—unless the price rises to $126,000–$129,000.

As a reminder, analyst PelinayPA of CryptoQuant confirmed that Bitcoin is demonstrating "healthy market dynamics." The experts also outlined the conditions under which the world's leading cryptocurrency could reach $200,000.