Bitcoin Price Soars to New All-Time Highs Amid US Government Shutdown

Bitcoin has experienced explosive growth this past week, surging 14% and nearing $124,000 amid the ongoing US government shutdown. This rally is fueled by strong buying activity, with Coinbase premium gap reaching a record high of $92, indicating robust US-led demand. While analysts remain cautious about resistance near $130,000 and expect further price discovery next week, Bitcoin’s market cap has soared past $4.21 trillion. 1000+ traders are now holding around 7 million BTC as of October 26th.