Bitcoin Hits a New All-Time High of $126,000 as Markets Brace for a Prolonged US Government Shutdown
Jakarta, Pintu News â Bitcoin has set another all-time high , continuing the upward trend that has been ongoing since early October. The rise comes amid market anticipation of a potential extension of the US government shutdown, which is expected to last up to three weeks.
Bitcoin Prints All-Time High on US Government Shutdown
Data from TradingView shows that Bitcoin set another All-Time High (ATH) by breaking above $125,500, which it reached the day before.
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As of October 6, BTC was trading around $126,000, up more than 2% in the last 24 hours.
This increase in Bitcoin price comes amid market expectations of a continued U.S. government shutdown. Based on data from Polymarket, there is a 72% chance that the shutdown will end on or after October 15.
The US government shutdown itself began on October 1, coinciding with a surge in BTC prices from the $114,000 range. Since the beginning of this month, Bitcoin has gained almost 10%.
Many investors are believed to be turning to Bitcoin as a safe-haven asset in what is now known as the âdebasement tradeâ, an attempt to protect wealth from economic uncertainty. The government shutdown has also delayed the release of important economic data, further heightening concerns in the market.
According to a report by CoinGape, thanks to the debasement trade phenomenon, the Bitcoin ETF recorded its second-largest weekly inflow last week, totaling $3.24 billion. This was a positive turning point, after the fund had experienced mixed inflows and outflows for some time.
How Far Can Bitcoinâs Rise Go?
Standard Chartered predicts that Bitcoinâs current rally has the potential to push the price to $135,000 in the near future, despite the ongoing US government shutdown.
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The global bank also predicted that BTC could break the $200,000 level before the end of 2025, driven by a surge in interest in Bitcoin ETFs.
Based on data from Polymarket, there is a 68% chance that Bitcoin will hit $130,000 this month, as well as a 38% chance of reaching $135,000, in line with Standard Charteredâs projections.
Meanwhile, the chances of Bitcoin breaking $150,000 are around 9%, which would be a new milestone for the worldâs largest cryptocurrency.
Crypto analyst Titan of Crypto also predicted that BTC could potentially break the $135,000 level within this month.
He noted that Bitcoinâs price movement is currently moving up in an ascending channel pattern, with the trend direction indicating the potential for continued gains to surpass the $135,000 target before the end of October.
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*Disclaimer
This content aims to enrich readersâ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an assetâs past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- Coingape. Bitcoin Tops $126,000 as Market Prices In Three-Week U.S. Government Shutdown. Accessed on October 7, 2025
