New Delhi: Bitcoin, the world's largest cryptocurrency by market value, hit a record high on Sunday and was up nearly 2.7 per cent at $125,245.57.

As of 2.54 pm today, the bitcoin stood at $124,353.96, up 1.55 per cent in intraday trading. The cryptocurrency experienced its eighth consecutive session of surges on Friday, propelled by recent gains in US equities and inflows into Bitcoin exchange-traded funds.

Bitcoin's previous record was $124,480 in mid-August, buoyed by friendlier regulations from US President Donald Trump's administration and strong demand from institutional investors.

The sustained institutional buying and the moves by the Trump administration to ease investment in crypto assets added to the tailwinds. The passage of stablecoin regulations and the US Securities and

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