Bitcoin climbed above $119,000 on Thursday, bucking a broader market downturn as traders 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 didn’t 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, towards 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 common seasonal weak point and establishing a traditionally bullish fourth quarter.
Previous tendencies counsel October and November usually drive robust features, that means Bitcoin might push previous $150,000 by year-end, fueled by the post-halving provide squeeze.
Citigroup’s constructive Bitcoin outlook for Bitcoin
Citigroup analysts bolstered a constructive 12-month outlook for Bitcoin in a be aware to purchasers this week, setting a Bitcoin goal of $181,000 whereas revising their year-end forecast to $132,000.
The financial institution cited strong inflows — estimated at $7.5 billion by year-end — and rising demand from institutional traders.
“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 setting might maintain momentum into 2026.
Previous to this week, Bitcoin was buying and selling sideways in current months, however key liquidity indicators counsel a breakout could also be close to.
World M2 development, stablecoin provide tendencies, 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.
