Bitcoin reaches $125,700, setting new ATH price record

Bitcoin reached a new all-time high of $125,700 on Sunday during Asian trading hours, breaking past its previous record from August 14.

The price topped $125,700 on Coinbase and other major exchanges early Sunday morning in Asia. This surpassed the exchange's prior peak of $124,500 set on August 14. Spot trading volume hit nearly $50 billion in the past 24 hours as the breakout happened.

Short positions took heavy losses during the rally. Liquidations exceeded $100 million within a single hour and totaled over $200 million across the day as prices climbed into record territory.

Exchange balances dropped sharply alongside the price gains. Glassnode data shows centralized exchanges now hold 2.83 million BTC, the lowest level since early June 2019. CryptoQuant reports an even lower figure of 2.45 million BTC across exchanges. Both sources confirm that more than 114,000 BTC—worth over $14 billion at current prices—left exchanges in the past two weeks.

The decline in exchange reserves means less BTC sits readily available for immediate selling. When supply tightens on platforms where most trading occurs, it can affect price action during periods of strong demand.

Also read: Crypto hirings surge – 1,600 jobs at Binance, Coinbase, Kraken

Bitcoin's path to this record included a 13.5% pullback from the August high, bottoming on September 1 before recovering through October. Trading activity picked up again in recent weeks as the price worked its way back toward previous highs.

The weekend rally occurred during a period when risk assets broadly gained strength. Institutional participants continue to maintain their presence in the market, while exchange outflows suggest holders are moving coins to longer-term storage rather than keeping them on trading platforms.

Bitcoin climbs to $125,700 as exchange reserves hit 2019 lows