Bitcoin Falls Slightly After Record High
Bitcoin prices fell slightly on Monday (October 6th), after hitting a record high above $125,000 last weekend. At 05:50 GMT, Bitcoin was trading at $123,716.7, down 1.6%. However, over the past week, Bitcoin's price rose more than 11% and has surged more than 30% since the start of 2025.
The Bitcoin price increase was driven by a large inflow of funds into spot Bitcoin ETFs in the United States. According to SoSoValue data, inflows reached $3.24 billion last week — the highest so far this year. Institutional investors are choosing to invest through ETFs because they are considered safer and more regulated.
Furthermore, uncertainty caused by the ongoing US government shutdown has led investors to seek hedge assets such as Bitcoin and gold. Many refer to this as a "debasement trade," where investors shift funds to assets perceived as more resilient to economic uncertainty and fiat currency values.
Meanwhile, OnePay, a Walmart-backed fintech company, plans to add a crypto trading feature to its app. According to CNBC, users will be able to buy Bitcoin and Ethereum through a partnership with crypto infrastructure provider Zerohash. This move expands OnePay's services into a one-stop digital finance app. (Asd)
Source: Newsmaker.id
