Post by : Rameen Ariff

Bitcoin, the world’s largest cryptocurrency, is once again in the spotlight as it touched a fresh high of $125,689 over the weekend, the highest level since mid-August. The surge came at a time when the US government shutdown pushed investors toward safe-haven assets such as gold and digital currencies, triggering what analysts call the “debasement trade.”

On Monday morning in Singapore, Bitcoin hovered around $124,000, staying close to its all-time high, according to market data. Analysts say the momentum behind Bitcoin’s price rally reflects growing investor confidence in cryptocurrencies as safe-haven assets, especially during times of economic uncertainty.

The shutdown in the United States delayed important economic reports, including the nonfarm payroll figures, further fueling investor anxiety. As a result, many turned to Bitcoin and gold, which have been on strong upward rallies. Gold also set another record by surpassing $3,900 on Monday, highlighting the broader trend of investors moving away from traditional markets.

According to Rachael Lucas, analyst at BTC Markets, Bitcoin may face resistance at $135,000, but if current momentum continues, the digital asset could push toward $150,000. She also warned that with high leverage building in the market, any sudden reversal in price could create sharp volatility in Bitcoin trading.

In options markets, sentiment remains largely bullish. Reports show that over 60% of open interest is in call options, reflecting strong optimism but also the risk of potential liquidation cascades if the rally slows down.

Other major cryptocurrencies have shown mixed performance. Ether (ETH), the second-largest digital asset, traded relatively stable at $4,522 on Monday morning, while XRP also held steady, just below $3.

The rise of Bitcoin during the US government shutdown highlights its growing role as a safe-haven asset alongside gold, as more investors look to digital assets for protection in uncertain times.

#world news #Global News