The leading cryptocurrency, Bitcoin (BTC), reached a new all-time high (ATH) of US$125,687 on October 5, 2025, amid a record-breaking surge in the global crypto market capitalization, which hit US$4.24 trillion.

According to Panji Yudha, a Financial Expert at Ajaib, this rise in BTC price reflects growing market optimism under the popular “Uptober” narrative — a term referring to October’s historically strong performance for digital assets. Since October 1, Bitcoin’s price has risen by over 8.50%.

The jump in total crypto market capitalization was largely driven by the strong performance of the two largest cryptocurrencies: Bitcoin (BTC), which hit a record US$125,687, and Ethereum (ETH), which successfully broke above the US$4,500 level after being capped around US$4,000.

“Together, BTC and ETH now account for over 65% of the total crypto market capitalization, with a combined valuation close to US$3 trillion. The solid performance of these two major assets signals a clear return of the market into bull territory,” Panji explained in his research note on Monday (October 6, 2025).

Panji noted that this rally coincided with the ongoing U.S. government shutdown, which began on October 1, 2025. The political uncertainty and the potential volatility in the U.S. dollar have triggered what JPMorgan analysts describe as “debasement trades.”

As a result, investors have been flocking to safe-haven assets as protection against macroeconomic risks and inflationary pressures, with Bitcoin and precious metals emerging as top choices.

“The Polymarket prediction market even suggests there is a more than 60% probability that the shutdown will last between 10 and 29 days, creating more room for BTC to shine as a store of value,” Panji said.

Beyond price movements, institutional inflows have also hit record levels. Over the past five trading days — from September 29 to October 3, 2025 — Spot Bitcoin ETFs recorded a net inflow of US$3.24 billion, with consistent daily increases.

The largest single-day inflow occurred on October 3, 2025, totaling US$985 million, highlighting growing investor appetite as the market enters Q4 2025.

“This five-day streak of positive inflows marks the highest weekly inflow period in history since the first Bitcoin ETF was launched on January 12, 2024,” Panji added.

Based on market data over the last 24 hours, as of Monday, October 6 at 08:00 AM (WIB), BTC rose 0.98% to US$123,350. Meanwhile, BTC dominance stood at 59.35%, while the global crypto market cap slightly declined by 0.80% to US$4.14 trillion.

For today’s trading session, Panji projects Bitcoin to move within the range of US$120,000–US$123,000, while Ethereum is expected to fluctuate between US$4,250–US$4,700.