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And according to Standard Chartered, Bitcoin could smash a new all-time high as soon as next week, which could trigger a swift breakout toward the $135,000 threshold.
New Bitcoin All-Time High On The Horizon
Bitcoin could stage a powerful rally to fresh record highs in the coming days.
While Bitcoin seems to be maintaining its familiar October bullish streak, often dubbed “Uptober”, Standard Chartered’s Global Head of Digital Assets Research, Geoff Kendrick, observed in a recent report to investors that the asset has abandoned its pattern of witnessing significant price retraces 18 months after the block rewards halving. A fall would have ensued following the April 2024 halving event if that had been the case.
Bitcoin climbed above $123,000 psychological mark on Friday as the US government shutdown stretched into its third day. The surge follows the U.S. government shutdown, which took effect on Wednesday after lawmakers failed to reach a funding agreement.
 
“The shutdown matters this time around,” Kendrick opined. “During the previous Trump shutdown (22 Dec 2018 to 25 Jan 2019) Bitcoin was in a different place than now, so it did little. However, this year Bitcoin has traded with ‘U.S. government risks’ as best shown by its relationship to U.S. treasury term premium.”
The banking analyst further suggested that he anticipates institutional interest to skyrocket towards the end of the year.
“Net Bitcoin ETF inflows are now at $58 billion, of which $23 billion has been in 2025,” Kendrick said. “I would expect at least another $20 billion by year-end, a number which would make my $200,000 [BTC] year-end forecast possible.”
Bitcoin was changing hands at $123,803 at press time, up 2.6% over the last 24 hours, according to CoinGecko data, just 0.8% away from the record set in August. If Kendrick’s $200,000 end-of-year price forecast materializes, BTC would add more than $76,197 before the end of 2025.