Bitcoin has surged nearly 15% in the first week of October, reaching $123,300, just shy of its all-time high above $124,500. This marks one of Bitcoin's strongest five-day rallies on record. The recent gains include a 3% increase in the past 24 hours. Economist Noelle Acheson attributes this rally to sustained global macroeconomic factors and increased institutional participation, setting it apart from previous cycles that often led to sharp sell-offs after reaching record highs.