Bitcoin climbed above $119,000 on Thursday, bucking a broader market downturn as buyers sought security following the U.S. authorities’s shutdown.
Bitcoin traded at highs of $119, 890 in morning buying and selling, at the same time as Wall Avenue shares slid on political dysfunction in Washington. Lawmakers did not safe sufficient votes late Tuesday to maintain the federal government funded, triggering a shutdown at midnight.
The standoff pits Democrats, led by Senate Majority Chief Chuck Schumer and Home Minority Chief Hakeem Jeffries, in opposition to Republicans aligned with President Donald Trump, who has threatened profit cuts if no deal is reached.
Bitcoin closed September up 5% at round $114,000, defying its standard seasonal weak spot and establishing a traditionally bullish fourth quarter.
Previous traits counsel October and November usually drive robust features, which means Bitcoin may push previous $150,000 by year-end, fueled by the post-halving provide squeeze.
Citigroup’s constructive Bitcoin outlook for Bitcoin
Citigroup analysts reinforced a constructive 12-month outlook for Bitcoin in a be aware to shoppers this week, setting a Bitcoin goal of $181,000 whereas revising their year-end forecast to $132,000.
The financial institution cited sturdy inflows — estimated at $7.5 billion via year-end — and rising demand from institutional buyers.
“We’re extra constructive on Bitcoin in comparison with Ether, because it captures an outsized portion of incremental flows into crypto markets,” Citi analysts wrote, including {that a} supportive U.S. regulatory surroundings may maintain momentum into 2026.
Previous to this week, Bitcoin was buying and selling sideways in current months, however key liquidity indicators suggest a breakout may be near.
World M2 progress, stablecoin provide traits, and gold’s rally — which Bitcoin has intently tracked with a 40-day lag — all level towards upward momentum, with some analysts eyeing $150,000 in early November.
