Bitcoin was ripped about 13% this week, which fell on Friday to shy just a new note of $ 124,500.
With the ceiling that is almost asclear, a quick move to $ 135,000 may be on the cards, according to the standard chartered head of the digital asset research Geoffrey Kendrick.
In a note published Friday, Kendrick argued that the US government’s shutdown plays a bigger role in markets than in previous stages that support the Bitcoin rally. During the 2018-2019 shutdown period, the BTC exchanged in another context. Today, the biggest crypto is closely linked to the US government’s risk, measured by the US Treasury premium terms, a relationship that suggests uncertainty around the actions of shutdown as a bullish driver at this time.
Merchant to Marketplace polymarket Currently provides more than a 60% chance that shutdown lasts 10-29 days. Kendrick’s assessment that BTC will continue to rise throughout the time.
Kendrick also featured an upcoming transfer to the ETF investor’s conduct. While the Golden ETFs have recently released their BTC counterparts with gold pushing to record prices, Bitcoin ETF flows have prepared to catch the tails for the owner, the report said.
Of the $ 58 billion in the net BTC ETF inflows to this day, $ 23 billion arrived in 2025, he said. This week alone, they attract more than $ 2.25 billion without a Friday session.
Kendrick hopes that vehicles can pull another $ 20 billion investor capital at the end of the year-enough to maintain BTC’s $ 200,000 ending price target of BTC.
