As of Sunday morning, October 5, the price of bitcoin, the world's leading cryptocurrency, soared to $125,245.57, marking an increase of nearly 2.7%. This was reported by Reuters.

The previous peak for bitcoin was $124,480 in mid-August, driven by new regulatory measures from the administration of U.S. President Donald Trump and strong demand from institutional investors.

On Friday, the cryptocurrency rose for the eighth consecutive trading session, fueled by recent gains in U.S. stocks and inflows into bitcoin exchange-traded funds.

Meanwhile, the U.S. dollar weakened on Friday, showing multi-week losses against major currencies, as uncertainty surrounding a potential government shutdown clouded economic outlooks and delayed key macro data, including labor market statistics.

It is worth noting that in August, bitcoin fell by 0.8% to $108,719 at the start of trading in Asia.