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Bitcoin hit a six-week excessive of $123,742 on Friday, following a 13.5% bounce from its native low of round $108,600 every week in the past. The world’s first and largest cryptocurrency has now reclaimed a key assist degree as costs proceed to consolidate slightly below its $124,128 document excessive.
And in keeping with Customary Chartered, Bitcoin might smash a brand new all-time excessive as quickly as subsequent week, which might set off a swift breakout towards the $135,000 threshold.
New Bitcoin All-Time Excessive On The Horizon
Bitcoin might stage a robust rally to recent document highs within the coming days.
Whereas Bitcoin appears to be sustaining its acquainted October bullish streak, typically dubbed “Uptober”, Customary Chartered’s World Head of Digital Belongings Analysis, Geoff Kendrick, noticed in a recent report back to buyers that the asset has deserted its sample of witnessing vital value retraces 18 months after the block rewards halving. A fall would have ensued following the April 2024 halving occasion if that had been the case.
Bitcoin climbed above $123,000 psychological mark on Friday because the US authorities shutdown stretched into its third day. The surge follows the U.S. authorities shutdown, which took impact on Wednesday after lawmakers failed to succeed in a funding settlement.
 
“The shutdown issues this time round,” Kendrick opined. “Throughout the earlier Trump shutdown (22 Dec 2018 to 25 Jan 2019) Bitcoin was in a special place than now, so it did little. Nevertheless, this 12 months Bitcoin has traded with ‘U.S. authorities dangers’ as finest proven by its relationship to U.S. treasury time period premium.”
The banking analyst additional advised that he anticipates institutional curiosity to skyrocket in direction of the top of the 12 months.
“Internet Bitcoin ETF inflows at the moment are at $58 billion, of which $23 billion has been in 2025,” Kendrick mentioned. “I’d count on no less than one other $20 billion by year-end, a quantity which might make my $200,000 [BTC] year-end forecast attainable.”
Bitcoin was altering palms at $123,803 at press time, up 2.6% over the past 24 hours, in keeping with CoinGecko information, simply 0.8% away from the document set in August. If Kendrick’s $200,000 end-of-year value forecast materializes, BTC would add greater than $76,197 earlier than the top of 2025.
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