Welcome to the US Crypto Information Morning Briefing—your important rundown of a very powerful developments in crypto for the day forward.
Seize a espresso as markets brace for one more pivotal second. From Washington’s shutdown to deep-pocketed crypto whales pushing leverage, forces are converging that might propel Bitcoin (BTC) into uncharted territory. Analysts discover themselves cut up on whether or not this energy is stable or fragile.
Crypto Information of the Day: Geoff Kendrick Sees Bitcoin Prepared for $135,000 as Shutdown Looms
Bitcoin could also be getting ready to a contemporary all-time excessive, in keeping with Commonplace Chartered’s Head of Digital Property Analysis, Geoff Kendrick.
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In an unique e mail to BeInCrypto, Kendrick mentioned he expects Bitcoin to “print a contemporary all-time-high subsequent week” and push towards his long-held Q3 goal of $135,000, reported in a current US Crypto Information publication.
The catalyst, he argues, lies within the dynamics of the US authorities shutdown.
“The shutdown issues this time round. In the course of the earlier Trump shutdown (December 22, 2018, to January 25, 2019), Bitcoin was in a unique place than it’s now, so it did little. Nonetheless, this yr, Bitcoin traded with US authorities dangers, as greatest proven by its relationship to US treasury time period premium,” Kendrick defined.
On Polymarket, merchants are pricing a 60% likelihood that the shutdown lasts between 10 and 29 days, suggesting no fast decision.
For Kendrick, this creates an prolonged atmosphere through which Bitcoin can outperform as a hedge towards fiscal gridlock and US credit score stress.
The opposite key driver lies in ETF flows. Gold has been outperforming Bitcoin ETFs in current weeks, however Kendrick expects that development to reverse.
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“Web Bitcoin ETF inflows are actually at USD58bn, of which USD23bn has been in 2025. I’d count on not less than one other $20 billion by year-end, a quantity which might make my $200,000 year-end forecast doable,” he mentioned.
With Uptober underway and liquidity dynamics handing over Bitcoin’s favor, Kendrick believes the market is about to reward holders with a brand new peak within the coming days.
Perp Whales Drive Aggressive Longs, Elevating Each Hopes and Dangers
Whereas macro tailwinds dominate headlines, on-chain and derivatives information point out rising momentum for Bitcoin’s subsequent breakout. Analysts at CryptoQuant and different corporations spotlight a surge in perpetual futures exercise led by perp whales.
“Bitcoin perp whales went lengthy closely on OKX, Bybit, HTX. The taker purchase ratio on OKX is the very best since January 2023,” wrote Ki Younger Ju, founder and CEO of CryptoQuant.
Based on Ki, the present setup marks the fourth try to interrupt Bitcoin’s ATH, solely this time, perp whales are on the frontline.
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Supporting this, analyst Maartunn noticed that for the reason that month-to-month open, taker purchase quantity has exceeded promote quantity by roughly $1.8 billion.
“Futures consumers are stepping up…clear signal of aggressive lengthy positioning,” Maartunn said.
This exercise has fueled hypothesis {that a} leveraged rally could also be within the works. In a current evaluation, Maartunn defined that rallies powered primarily by borrowed capital relatively than long-term spot accumulation are inherently fragile.
“It would look spectacular for a short while, but it surely’s extremely unstable and simply ready for a purpose to fall over,” he warned.
The chance is that heavy lengthy positioning might set off cascading liquidations if momentum falters, suppressing spot demand at the same time as costs rise.
This makes present valuations extra speculative than sustainable. Nonetheless, with whale positioning aligned with macro catalysts like the federal government shutdown and ETF flows, the situations seem ripe for Bitcoin to lastly clear its all-time excessive barrier.
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Right here’s a abstract of extra US crypto information to comply with as we speak:
Crypto Equities Pre-Market Overview
| Firm | On the Shut of October 2 | Pre-Market Overview |
| Technique (MSTR) | $353.33 | $352.00 (-0.026%) |
| Coinbase (COIN) | $372.07 | $373.50 (+0.38%) |
| Galaxy Digital Holdings (GLXY) | $36.52 | $36.89 (+1.01%) |
| MARA Holdings (MARA) | $18.79 | $18.98 (+1.01%) |
| Riot Platforms (RIOT) | $19.25 | $19.36 (+0.57%) |
| Core Scientific (CORZ) | $18.10 | $18.13 (+0.17%) |