Bitcoin Tops $120,000 Amid US Government Shutdown, Echoing Hoskinson’s Forecast

Group 1: Bitcoin Price Movement - Bitcoin surged past $120,000 on October 3, driven by investor demand for safety in digital assets amid the US federal government's partial shutdown [1] - Bitcoin jumped more than 2% overnight, reaching $116,400 before breaking through the $120,000 threshold [3] - Charles Hoskinson predicts Bitcoin could reach $250,000 by mid-2026, citing geopolitical disruption as a catalyst [1][5] Group 2: Market Reactions to Government Shutdown - The government shutdown began on October 1 after the Senate rejected a stopgap funding bill, affecting funding access for federal agencies and risking furloughs for approximately 150,000 employees [2] - Market reactions included a sharp drop in S&P 500 futures and a 1.1% rise in gold prices to $3,913.70 per ounce [2] - Analysts view the shutdown as a direct contributor to market volatility, with potential implications for Federal Reserve interest rate cuts [4] Group 3: Geopolitical Factors Influencing Bitcoin - Hoskinson argues that geopolitical fragmentation strengthens the case for cryptocurrencies, suggesting that reliance on conventional banking systems is becoming politically constrained [6][7] - Digital assets like Bitcoin are seen as offering a global settlement layer free from political restrictions, particularly amid tensions between the US, Russia, and China [7]