Bitcoin surpassed a new pinnacle over the weekend, leading analysts to advocate for a refreshed accumulation phase that could propel a surge to $150,000 prior to the year’s conclusion.<\/p>\n
Bitcoin (BTC<\/a>) achieved a new record high exceeding $125,700<\/a>, and its market valuation temporarily surpassed the $2.5 trillion mark for the first instance in crypto history<\/a>, as reported by Cointelegraph earlier on Sunday.<\/p>\n The surge was bolstered by several macroeconomic elements, including the recent US government halt \u2014 the first since 2018 \u2014 which some analysts suggest has rekindled interest in Bitcoin\u2019s store-of-value function.<\/p>\n Historically, similar circumstances have resulted in \u201csignificant price milestones,\u201d according to Fabian Dori, chief investment officer at digital asset banking group Sygnum Bank.<\/p>\n The US government shutdown has \u201crevived dialogue about Bitcoin\u2019s store-of-value capacity, as political instability emphasizes interest in decentralized assets,\u201d Dori informed Cointelegraph. \u201cSimultaneously, the wider context \u2014 marked by relaxed liquidity conditions, a service-led boost in the business cycle, and narrowing underperformance against equities and gold \u2014 has attracted focus towards digital assets,\u201d he continued.<\/p>\n Nonetheless, the magnitude of the shutdown\u2019s tailwind impact on the crypto arena will ultimately hinge on how it affects the US Federal Reserve\u2019s viewpoint on interest rate choices, Jake Kennis, senior research analyst at Nansen, informed Cointelegraph.<\/p>\n \u201cCrypto markets might gain from a resolution of the shutdown if it alleviates uncertainty and nudges the Fed towards a more accommodative approach,\u201d Kennis remarked.<\/p>\n While some analysts perceived the government shutdown as an indication of a possible crypto market bottom<\/a>, Kennis noted it\u2019s \u201cpremature to designate this as a local market bottom,\u201d as affirmation would necessitate \u201cmulti-week stability above critical support thresholds.\u201d<\/p>\n Related: <\/strong><\/em>Bitcoin ETFs ignite \u2018Uptober\u2019 with $3.2B in second-best week on record<\/strong><\/em><\/a><\/p>\n Some analysts interpret Bitcoin\u2019s recent surge as indicative of a new accumulation phase by major entities, as onchain data indicates a decrease in selling pressure from larger investors.<\/p>\n \u201cMarket insights suggest the present price movements may be related to an accumulation phase,\u201d stated Sygnum Bank\u2019s Dori.<\/p>\n \u201cSelling pressure from long-term holders seems to be easing, while short-term investors indicate signs of stabilization after a phase of realized losses.\u201d<\/p><\/blockquote>\n Historically, periods of \u201ccooling speculative activity and a more stable positioning\u201d have preceded notable Bitcoin rallies, he further added.<\/p>\n Related: <\/strong><\/em>Crypto trader transforms $3K into $2M after CZ post sends memecoin soaring<\/strong><\/em><\/a><\/p>\n Meanwhile, Bitcoin\u2019s open interest \u201creset significantly\u201d following last week\u2019s options expiry, which may \u201cprepare the landscape\u201d for the fourth quarter, according<\/a> to the blockchain data service Glassnode.<\/p>\n Decreasing speculative activity may draw increased attention toward Bitcoin, reinforcing analysts’ forecasts of a breakout to $150,000<\/a> in the fourth quarter of 2025, provided BTC can maintain its momentum above the crucial $120,000 psychological threshold, Charles Edwards conveyed to Cointelegraph at Token2049.<\/p>\nBitcoin embarks on a fresh accumulation phase<\/h2>\n