On Thursday, Bitcoin surged past $119,000, countering a general market decline as investors sought refuge following the U.S. government’s shutdown.
During morning trading, Bitcoin reached a peak of $119,890, despite Wall Street stocks falling due to political turmoil in Washington. Lawmakers couldn’t gather enough votes late Tuesday to keep the government funded, leading to a shutdown at midnight.
The deadlock involves Democrats, spearheaded by Senate Majority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries, opposing Republicans aligned with President Donald Trump, who has warned of benefit cuts if an agreement isn’t reached.
Bitcoin finished September up by 5% around $114,000, defying its typical seasonal slump and positioning itself for a historically optimistic fourth quarter.
Historical data indicates that October and November usually see substantial gains, suggesting Bitcoin could exceed $150,000 by year’s end, driven by the post-halving supply constraints.
Citigroup’s favorable outlook for Bitcoin
In a report to clients this week, Citigroup analysts affirmed a positive 12-month outlook for Bitcoin, setting a price target of $181,000 and adjusting their year-end prediction to $132,000.
The bank highlighted strong inflows — estimated at $7.5 billion through the end of the year — and increasing interest from institutional investors.
“We maintain a more optimistic view on Bitcoin compared to Ether, as it captures a larger share of new investments in the crypto markets,” Citi analysts noted, emphasizing that a favorable U.S. regulatory landscape could sustain momentum into 2026.
Before this week, Bitcoin had been trading sideways in recent months, but crucial liquidity indicators suggest that a breakout could be imminent.
Factors such as global M2 growth, stablecoin supply trends, and the rally in gold — which Bitcoin has closely followed with a 40-day delay — all indicate potential upward movement, with some analysts predicting $150,000 by early November.
