Bitcoin at $125K: Institutions Deepen Uptober Accumulation

Key Takeaways

• Bitcoin reached a new all-time high of $125,506 before a mild pullback to begin the week at $123,600, confirming the “Uptober” trend with over 10% weekly gains.
• BTC supply on exchanges hit a six-year low, underscoring tightening supply amid rising institutional demand.
• ETH treasuries now hold 3.9% of supply, overtaking BTC treasuries at 3.5%, while SOL treasuries hold 0.07%.
• BNB Chain hit a new all-time high in daily perpetuals volume of $944 million, signaling renewed derivatives appetite.
• Morgan Stanley and U.K. regulators are opening new institutional doors for crypto exposure.