Bitcoin Blasts Past $126K in Uptober Surge – ETF Frenzy and Macro Tailwinds Fuel New Highs
Bitcoin hit a record high near $126,200 on Oct. 6, doubling in value over the past year. U.S. spot Bitcoin ETFs drew $1.18 billion in inflows that day, led by BlackRock’s iShares fund. On-chain data shows 97% of BTC supply is in profit, with exchange reserves at six-year lows. The rally follows a U.S. government shutdown, weak jobs data, and a falling dollar.