Bitcoin Hits New All-Time High Amid U.S. Government Shutdown
- Bitcoin (BTC) has reached a new all-time high of approximately $126,000, surpassing its previous ATH of $125,500 set yesterday.
- The current rally began on October 1, coinciding with the start of the U.S. government shutdown.
- BTC is up nearly 10% since the beginning of October, rising from around $114,000.
- Polymarket data indicates a 72% chance that the government shutdown will extend beyond October 15.
- Standard Chartered predicts Bitcoin could rise to $135,000 soon and potentially reach $200,000 by year-end due to ETF developments.
The ongoing U.S. government shutdown has led investors to view Bitcoin as a safe-haven asset amid economic uncertainty, contributing to its recent price surge. Additionally, key economic data releases have been delayed due to the shutdown, increasing market volatility.
As Bitcoin approaches its new ATH at $126,000 and shows potential for further gains, investors are closely monitoring its trajectory amid the prevailing economic conditions and predictions of higher prices.(Source)
