Bitcoin Surges Past $120K: Crypto Booms Amid U.S. Shutdown

Bitcoin Soars Past $120,000

On October 2, 2025, Bitcoin (BTC) surged past the $120,000 mark for the first time since mid-August. According to CoinGecko data, BTC reached $120,286, marking a 2% gain in the past 24 hours and nearly 8% over the week.

This rally comes as the U.S. government entered its second day of shutdown, rattling financial markets and driving investors toward safe-haven assets. Alongside Bitcoin, gold also surged, reaching a new all-time high above $3,922 per ounce.

Bitcoin ETFs Attract Massive Inflows

One of the main drivers behind Bitcoin’s rally has been the massive capital inflows into Bitcoin ETFs. On Wednesday alone, inflows hit $675.8 million — the largest since September 12.

Bloomberg ETF analyst Eric Balchunas noted that Bitcoin’s growing decoupling from U.S. equities, especially the tech sector, is making the digital asset increasingly attractive to institutional investors.

“Uptober” Returns

Historically, September has been a challenging month for Bitcoin, but October — affectionately dubbed “Uptober” by the community — has often delivered strong rallies. Over the past decade, Bitcoin has posted gains in nine out of ten Octobers, and this year is proving no different.

Analysts also believe that growing expectations of a Federal Reserve rate cut are fueling bullish sentiment. Bitcoin has historically performed well in low-interest-rate environments.

Ethereum, Solana, and Altcoins Join the Rally

Bitcoin’s surge is not happening in isolation. Major altcoins are also rising in tandem. Ethereum (ETH) is trading around $4,407, up 3% in the past 24 hours, while Solana (SOL) has climbed to nearly $226, also up 3%.

This reflects the broader optimism sweeping across the crypto market, as capital flows expand beyond Bitcoin into other digital assets.

Bitcoin Price Outlook

Many traders believe Bitcoin is poised to set a new record high in the near future. Data from the Myriad platform shows that 81% predict BTC will soon hit $125,000, while only 19% expect a drop to $105,000 first.

If the bullish scenario plays out, Bitcoin will establish a new all-time high, further solidifying its status as one of the world’s leading safe-haven assets.

Conclusion

Amid the U.S. government shutdown, rising financial instability, and heightened risk aversion, Bitcoin has once again proven its strength as a store of value. With “Uptober” in full swing, global investors are closely watching BTC’s moves, waiting to see if it can soon break through the $125,000 milestone and set a new historic record.

Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.