Bitcoin rallies with DeFi as Zcash tops weekly performance: Finance Redefined

Analysts were eying a “quick” Bitcoin breakout to $150,000, as ARK Invest’s Cathie Wood compared the Hyperliquid token’s performance to Solana during the previous crypto cycle.

The digital asset market staged a significant recovery over the past week following the end-of-September slump. Investor interest began to return, driven by a newfound appetite for safe-haven assets due to the uncertainty caused by the US government’s first shutdown in six years.

The growing demand for safe-haven assets may see Bitcoin (BTC) follow gold’s rally, potentially leading to a new all-time high of $150,000 before the end of the year, according to Capriole Investments founder Charles Edwards. Bitcoin recovered above the $120,000 mark on Thursday for the first time since Aug. 14 and continued to trade above $120,122 at the time of writing on Friday.

Elsewhere, the ballooning financial deficit of France’s central bank may provide another Bitcoin catalyst, as it may lead to “trillions of euros” of money printing by the European Central Bank (ECB), signaling fresh liquidity flowing into Bitcoin, according to Arthur Hayes, co-founder of cryptocurrency exchange BitMEX.

Read more