Bitcoin hit a record high on Sunday, up nearly 2.7% at $125,245.57 at 6:12 PM WAT, before dropping to $123,595 around 6:10 AM on Monday.
Bitcoin’s previous record was $124,480 in mid-August, helped by friendlier regulations from U.S. President Donald Trump’s administration and strong demand from institutional investors.
The cryptocurrency had risen on Friday for an eighth straight session, bolstered by recent gains in U.S. equities and inflows into bitcoin exchange-traded funds.