Bitcoin Exceeded 119 Thousand Dollars: Opportunity Warning from Experts

In recent days, Bitcoin has attracted investors' attention by trading above $119,000. The US government's shutdown decision caused Bitcoin to reach a 2-month high, and analysts state that this situation could offer new opportunities for the cryptocurrency market.

The inability to reach a consensus on the budget in the US Congress, leading to the government shutdown, pushed Bitcoin's price to $118,500. Following the government shutdown, delays in the announcement of important economic data increased expectations of liquidity expansion in the market. These developments positively impacted risk appetite, providing buying support to the cryptocurrency market.

Bitcoin gained approximately 4% in value within the last 24 hours, briefly touching $119,455. This is the highest price level the cryptocurrency has reached since mid-August. Other major cryptocurrencies, such as Ethereum, Solana, XRP, and Dogecoin, gained between 4% and 7%. According to CoinDesk data, the CD20 index also rose by 5% to 4,217 points.

Analysts state that this price increase could further accelerate with the expectation that the United States Federal Reserve (Fed) will continue with interest rate cuts. Matt Mena, a research strategist at 21Shares, states that the government shutdown could delay non-farm payroll data, increasing the likelihood of the Fed implementing a 25 basis point interest rate cut in October. Mena suggests that this scenario could lower real interest rates, weaken the dollar, and create strong liquidity support for Bitcoin.

Greg Magadini from Amberdata states that short-term Bitcoin options traded on the Deribit exchange are "cheap." Magadini suggests that low volatility could resurface with the government shutdown, and particularly with a 'long straddle' strategy, profits could be made from large price movements in both upward and downward directions.

This information consists of analyses and comments and is definitely not investment advice.