OneBullEx Weekly Recap 2 OneBullEx Crypto Weekly Recap: A week of records, markets rally despite a U.S. shutdown

Investors entered the first week of Sep 30 to Oct 6  with the U.S. government partially shut down for the first time since 2019. Around 800,000 federal workers were furloughed and economists warned of billions of dollars in weekly economic losses . The shutdown delayed key jobs data and left the Federal Reserve “flying blind” ahead of its November policy meeting, forcing the market to price in a roughly 96 % chance of a 25 basis‑point rate cut . Paradoxically, that uncertainty fueled a risk‑on mood in digital assets. Bitcoin and cryptocurrencies rallied as investors sought havens from political gridlock and weaker economic data, illustrating how digital assets have matured from speculative novelties into perceived macro hedges.

Bitcoin storms past $125 k as ETF inflows roar

The star of Sep 30 to Oct 6 was Bitcoin. After consolidating near $120 000, the bellwether cryptocurrency broke to a new all‑time high of about $125,725, according to CoinCentral . A similar estimate from India Today pegged the week’s peak at $125,689, up about 10 % week‑over‑week . Analysts credit several catalysts:

• Record ETF inflows: A flood of capital into spot Bitcoin exchange‑traded funds continues to shrink circulating supply on exchanges. BanklessTimes noted that on 2 October, U.S. Bitcoin ETFs attracted $627 million in inflows, boosting cumulative year‑to‑date inflows above $59 billion . This surge suggests institutional conviction that Bitcoin is now an accepted portfolio asset.
• Safe‑haven demand: With the U.S. government closed and the dollar weakening, investors flocked to assets like gold and Bitcoin. Market commentary cited by India Today explains that downward revisions of U.S. jobs numbers and a weaker dollar increased demand for safe‑haven assets . VanEck’s head of digital assets warned that strong demand was creating a potential shortage of Bitcoin on exchanges .
• Political support: In an article titled “CZ Calls Trump the ‘Crypto President’”, CoinCentral highlighted that Binance co‑founder Changpeng Zhao praised U.S. President Donald Trump’s pro‑crypto stance after Trump signed a new crypto bill. The article notes that Trump has called for modernizing the U.S. financial system with blockchain and has created a legal framework for a national crypto reserve . This rhetoric and policy support bolstered bullish sentiment.
   

Ethereum steadies above $4,500 as whales accumulate

Ethereum also advanced, albeit at a slower pace. During the week, ETH recovered above $4,500 and held above its 100‑hour moving average near $4,500 . Technical analysis from Mitrade noted resistance around $4,620; a break above that level could extend the rally towards $4,650 and $4,720 , while failure to clear it risks a drop toward $4,350 .

Institutional demand appears to be building. CoinCentral reported that whales accumulated nearly 800 000 ETH during the week, pushing Ethereum up 8.84 % to about $4,510. Analysts argue that staking continues to reduce ETH’s liquid supply, while BlackRock’s proposed Ethereum ETF has attracted significant investor interest. Some analysts even compare Ethereum’s current pattern to gold’s rally between 2020 and 2025, projecting ambitious targets of $12 000–$15 000 by the end of 2025. For now, ETH’s ability to maintain support near $4,500 amid heavy Bitcoin dominance signals underlying strength and hints at further upside as capital rotates into alternative Layer‑1 networks.

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