Bitcoin Price Nears All-Time High As It Soars Above $122,000

Bitcoin has started off the fourth quarter of 2025 on a strong note, with its price soaring more than 10% in the past week, from around $109,000 on September 27 to over $122,000 today. This surge has caught the attention of investors and experts alike, with many predicting that Bitcoin could reach new all-time highs if the U.S. government shutdown continues.

According to Geoff Kendrick, the head of digital assets at Standard Chartered, Bitcoin has historically shown a positive correlation with U.S. Treasury term premiums. This suggests that the cryptocurrency may benefit from prolonged fiscal uncertainty, such as the current government shutdown. Kendrick noted that during times of prolonged market stress, which often favor assets with scarcity like Bitcoin, the cryptocurrency has shown remarkable resilience.

Standard Chartered’s forecast now targets Bitcoin at $135,000 in the near term, with a year-end projection of $200,000. This signals a strong confidence in Bitcoin’s upside potential, despite the current price hovering around $122,200, just shy of its August all-time high of $124,480.

The potential for an extended U.S. government shutdown adds another layer of market uncertainty, which can influence both equities and fixed-income instruments. However, for Bitcoin, these conditions may serve as a catalyst, reinforcing its role as a hedge against traditional market volatility.

Bitcoin has been trading sideways in recent months, but key liquidity indicators suggest that a breakout may be imminent. Global M2 growth, stablecoin supply trends, and gold’s rally, which Bitcoin has closely tracked with a 40-day lag, all point towards a potential upward movement.

JPMorgan analysts also view Bitcoin as undervalued compared to gold, estimating a theoretical upside to $165,000 if the “debasement trade” continues. This trade involves investing in assets that hedge fiat currency risk. With historical patterns indicating strong potential for outsized gains in the fourth quarter, supported by growing retail and institutional interest in Bitcoin ETFs and custody solutions, the stage is set for a potential rally.

Data from previous years, such as 2015, 2016, 2023, and 2024, show that positive September closes were followed by fourth-quarter rallies averaging more than 50%. This historical trend further fuels the speculation of a potential surge in Bitcoin’s price in the coming months.

Overall, the outlook for Bitcoin in the fourth quarter of 2025 appears positive, with experts and market indicators pointing towards a potential rally. As the cryptocurrency market continues to evolve and attract more interest from investors, Bitcoin’s price trajectory remains a topic of interest and speculation among traders and analysts.