Fueled by an ongoing rally since October began, Bitcoin has surged to a new record high. Market observers attribute this climb in part to expectations of a prolonged United States government shutdown, possibly lasting for several weeks.
Bitcoin Price Soars to New Peak Amidst U.S. Government Shutdown
Information from TradingView indicates the premier cryptocurrency established a fresh all-time high, exceeding its previous record of $125,500 set the day before. Currently, BTC is valued around $126,000, reflecting an increase of over 2% in the past day.
This surge in Bitcoin’s value to a new apex aligns with market sentiment anticipating an extended shutdown of the U.S. government. Data from Polymarket currently suggests a 72% likelihood that the shutdown will persist until at least October 15th.
The U.S. government’s cessation of operations began on October 1st, coinciding with Bitcoin’s price ascending from approximately $114,000. The leading digital asset has gained nearly 10% since the beginning of this month.
Analysts suggest investors are increasingly allocating funds to Bitcoin as a reliable store of value, capitalizing on the “debasement trade” to protect against prevailing economic uncertainties. Furthermore, the shutdown has led to delays in the release of crucial economic data, contributing to investor apprehension.
According to previous reporting, this surge in Bitcoin investment due to the debasement trade resulted in Bitcoin ETFs experiencing their second-strongest week of inflows ever, attracting $3.24 billion. This represented a significant reversal following a period of fluctuating investment patterns.
What are the Potential Heights for the Bitcoin Rally?
Standard Chartered projects that the ongoing Bitcoin surge could propel it to $135,000 in the near future, even amidst the government shutdown. The financial institution also anticipates Bitcoin reaching $200,000 by the close of the year, bolstered by the growth of ETFs.
Polymarket data reveals a 68% probability that Bitcoin will reach $130,000 this month and a 38% chance it will climb to $135,000, aligning with Standard Chartered’s forecast. There is also a 9% possibility that BTC will reach $150,000, marking a historic milestone.
Crypto analyst Titan of Crypto has indicated that Bitcoin could potentially surpass $135,000 this month. They observed that the cryptocurrency is steadily advancing within a channel, suggesting a trend towards exceeding the $135,000 target before the month concludes.
#Bitcoin grinding up the channel 🚀
Trend is your friend. 📈 pic.twitter.com/M0DGSEl096
— Titan of Crypto (@Washigorira) October 5, 2025