On October 5, 2025, Bitcoin achieved a significant milestone by hitting an all-time high of $125,559, showing an impressive current trading price of approximately $125,257.26. This remarkable surge in value can be largely attributed to substantial inflows into spot Bitcoin ETFs, which have already attracted over $28 billion this year. The backdrop of these impressive figures is further complicated by ongoing uncertainties surrounding the U.S. government shutdown, enhancing Bitcoin’s position as a reliable hedge against the fluctuations of economic instability.
However, the journey isn’t without its hurdles. Experts have pointed out that Bitcoin may face a critical resistance challenge around the $124,000 mark. This price zone previously acted as a significant resistance, leading to a 13% pullback on the last encounter with this level. As traders and investors remain watchful, Bitcoin must demonstrate whether this resistance is weakening, as a smaller dip might indicate that the market is gearing up for another upward movement.
Bitwise Strategist: “You’re Not Bullish Enough on Crypto”
In a candid conversation with Coinpedia, Juan Leon, the Senior Investment Strategist at Bitwise, shared insights on how upcoming price swings should not distract from the long-term potential of cryptocurrencies. “What I meant when I said, ‘Forget the short-term price action, you’re not bullish enough on crypto,’ is that there are many important developments happening in crypto that are independent of the sluggish short-term price action, and that are bullish for the industry longer-term,” Leon elaborated.
Among these developments are:
- The SEC considering an ‘innovation exemption’ to accelerate crypto product launches by year-end.
- Nine European banks, led by ING, collaborating on a MiCA-compliant euro-backed stablecoin.
- Cloudflare announcing a USD stablecoin designed for the next-generation “agentic web.”
- Tether reportedly seeking to raise $20 billion at a $500 billion valuation.
- Kraken securing $500 million in funding at a $15 billion valuation.
The increasing interest from institutional investors and major financial institutions highlights a growing acceptance of cryptocurrency in broader financial markets. With the SEC’s potential move towards an innovation exemption, we could see a wave of new products and platforms in the crypto space. This development signifies a potential for significant growth and innovation, paving the way for a broader adoption of Bitcoin and other cryptocurrencies.
In Europe, the collaboration among banks to create a euro-backed stablecoin under the MiCA framework illustrates a proactive step towards regulatory compliance and mainstream acceptance. This could lead to enhanced trust from users and investors, further reinforcing the stability and viability of cryptocurrencies.
Additionally, Cloudflare’s initiative in developing a USD stablecoin positions it within the growing trend towards digitization in finance, promising a future where digital currencies may potentially dominate the economic landscape. As traditional financial entities begin to embrace digital currencies, the market stands on the brink of transformation.
Interestingly, the intentions of Tether to raise a substantial amount of $20 billion at a $500 billion valuation demonstrate the elevated confidence in the stablecoin market. This could create ripples in liquidity and investor confidence across the crypto ecosystem. Similarly, Kraken’s substantial funding acquisition indicates robust investor interest and confidence in the sustained growth of crypto exchanges.
