Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee as markets brace for another pivotal moment. From Washington’s shutdown to deep-pocketed crypto whales pushing leverage, forces are converging that could propel Bitcoin (BTC) into uncharted territory. Analysts find themselves split on whether this strength is solid or fragile.
Crypto News of the Day: Geoff Kendrick Sees Bitcoin Ready for $135,000 as Shutdown Looms
Bitcoin may be on the brink of a fresh all-time high, according to Standard Chartered’s Head of Digital Assets Research, Geoff Kendrick.
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In an exclusive email to BeInCrypto, Kendrick said he expects Bitcoin to “print a fresh all-time-high next week” and push toward his long-held Q3 target of $135,000, reported in a recent US Crypto News publication.
The catalyst, he argues, lies in the dynamics of the US government shutdown.
On Polymarket, traders are pricing a 60% probability that the shutdown lasts between 10 and 29 days, suggesting no quick resolution.
US Government Shutdown Timeline Probabilities. Source: PolymarketFor Kendrick, this creates an extended environment in which Bitcoin can outperform as a hedge against fiscal gridlock and US credit stress.
The other key driver lies in ETF flows. Gold has been outperforming Bitcoin ETFs in recent weeks, but Kendrick expects that trend to reverse.
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With Uptober underway and liquidity dynamics turning in Bitcoin’s favor, Kendrick believes the market is set to reward holders with a new peak in the coming days.
Perp Whales Drive Aggressive Longs, Raising Both Hopes and Risks
While macro tailwinds dominate headlines, on-chain and derivatives data indicate growing momentum for Bitcoin’s next breakout. Analysts at CryptoQuant and other firms highlight a surge in perpetual futures activity led by perp whales.
According to Ki, the current setup marks the fourth attempt to break Bitcoin’s ATH, only this time, perp whales are on the frontline.
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Supporting this, analyst Maartunn observed that since the monthly open, taker buy volume has exceeded sell volume by roughly $1.8 billion.
This activity has fueled speculation that a leveraged rally may be in the works. In a recent analysis, Maartunn explained that rallies powered primarily by borrowed capital rather than long-term spot accumulation are inherently fragile.
The risk is that heavy long positioning could trigger cascading liquidations if momentum falters, suppressing spot demand even as prices rise.
This makes current valuations more speculative than sustainable. Still, with whale positioning aligned with macro catalysts like the government shutdown and ETF flows, the conditions appear ripe for Bitcoin to finally clear its all-time high barrier.
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Chart of the Day
Bitcoin Taker Buy Sell Ratio. Source: CryptoQuantByte-Sized Alpha
Here’s a summary of more US crypto news to follow today:
Crypto Equities Pre-Market Overview
| Company | At the Close of October 2 | Pre-Market Overview |
| Strategy (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%) |
Source: https://beincrypto.com/geoff-kendrick-standard-chartered-bitcoin-prediction-us-crypto-news/
