Bitcoin price jumped to a record high of $125,713 on Sunday, continuing a bull run that began earlier last week when it bottomed at $108,000. BTC has jumped by 66% from its lowest level this year. This article explores the top reasons why the BTC price jumped to a record high.
Bitcoin Price Soared as ETF Inflows Skyrocketed
The BTC price jumped to a record high as investors cheered the ongoing ETF inflows. Data shows that all spot Bitcoin ETFs have added over $60 billion in inflows since their approval in January 2024.
BlackRock’s IBIT ETF has had over $97 billion in assets, while Fidelity’s FBTC has over $25 billion. It recently crossed Grayscale’s Bitcoin Trust, which has accumulated over $21 billion in assets.
IBIT ETF has become one of the most successful funds ever. For example, it has become the seventh-biggest BlackRock fund and is one of the top 20 biggest ETFs globally.
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BTC Price Has Soared as the Fed Starts to Pivot
The Bitcoin price has jumped as the Federal Reserve begins to pivot its monetary policy. After months of resisting the idea of cutting interest rates, officials began to cut rates in the September meeting. They brought interest rates to between 4% and 4.25%.
There are now signs that the Fed will continue cutting rates in the coming meetings, now that the labor market is slowing. A report by ADP this week revealed that the economy lost 36,000 jobs last month. Another one by the Bureau of Labor Statistics (BLS) showed that the number of vacancies is falling.
Bitcoin also jumped as investors embraced its role as a safe-haven asset, much like they have with gold, which has reached a record high.
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Bitcoin Price Wyckoff Theory Points to More Gains

The weekly chart shows that the BTC price has also jumped in the past few months, and technicals point to more gains. One of the most important technical catalysts is that is its Murrey Math Lines.
BTC price has retested the strong pivot point of the Murrey Math Lines at $125,000. In this case, the chart shows that it will jump and hit the ultimate resistance at $150,000. A move above that level will signal further gains, potentially reaching the extreme overshoot at $175,000, followed by the psychological barrier at $200,000.