Bitcoin Torn off around 13% this week, increasing a new record of $ 124,500 on Friday.
With this almost erased ceiling, a quick move at $ 135,000 could be in the cards, according to the chief of research on the standard digital assets of Geoffrey Kendrick.
In a note published on Friday, Kendrick argued that the closure of the United States government plays a more important role in the markets than in previous episodes supporting the Bitcoin rally. During the 2018-2019 closure, the BTC exchanged a different context. Now, the largest crypto has been closely correlated with the risk of the American government, measured by the bonuses of the term of the American treasure, a relationship which suggests that uncertainty around the closure acts as a bullish driver this time.
Merchants on the Marketplace Polymarket prediction currently give more than 60% chance that the closure lasts 10 to 29 days. Kendrick has planned that BTC will continue to increase throughout this period.
Kendrick also highlighted an upcoming change in the behavior of ETF investors. While FNB Gold recently surpassed their BTC counterparts with golden efforts to record prices, Bitcoin Spot flows are ready to catch up on the tail for the active, according to the report.
Of the $ 58 billion at BTC ETF net entries so far, $ 23 billion have arrived in 2025, he said. Only this week, they attracted more than $ 2.25 billion without the Friday session.
Kendrick has planned vehicles could attract another $ 20 billion investor capital by the end of the year – enough to keep its BTC price of $ 200,000 in play.
