Reuters

Bitcoin, the world&#39;s largest cryptocurrency by market value, hit a record high on Sunday (October 5) and was up nearly 2.7% at $125,245.57 at 0512 GMT.&nbsp;Bitcoin&#39;s previous record was $124,480 in mid-August, buoyed by friendlier regulations from US President Donald Trump&#39;s administration and strong demand from institutional investors.&nbsp;The cryptocurrency had risen on Friday (October 3) for an eighth straight session, bolstered by recent gains in US equities and inflows into&nbsp;bitcoin&nbsp;exchange-traded funds.&nbsp;In contrast, the US dollar retreated on Friday, posting multi-week losses against major currencies, as uncertainty surrounding a US government shutdown clouded the outlook and delayed key data releases, such as payrolls, critical for gauging the economy&#39;s direction.

Crypto

The rally extends an eight-day winning streak, while the US dollar weakens amid government shutdown concerns and delayed economic data.

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Bitcoin hits all-time high above $125,000