Bitcoin Nears Record Close as Safe-Haven Narrative Emerges || Daily News
BTC eyes $115.7k for all-time monthly close; altcoins set to follow if momentum holds
🪙 Crypto Market
Bitcoin has climbed toward $114k, with some attributing the move to its potential role as a safe haven amid U.S. government shutdown risks. While this narrative is gaining traction, confirmation will depend on market behavior once the shutdown actually unfolds.
Regardless of the reason, BTC looks on track for its highest-ever quarterly close. If it can clear and hold above $115.7k, it will also mark a record monthly close.
📊 Relative Value
A comparison with gold underscores how much room BTC has to run. Gold has surged nearly 50% year-to-date, while Bitcoin has only managed about 15%. For funds seeking performance catch-up trades, BTC may increasingly look like the undervalued play.
Just matching gold’s gains this year would imply Bitcoin at $150k.
🔎 Technical Setup
Immediate hurdle: $114.5k (post-Fed low). Daily closes above here strengthen the bullish case.
Upside targets: Short liquidations cluster at $116.6k–$117.4k; a breakout could push BTC toward $119k–$120k.
Downside risk: If today’s move proves a false narrative rally, BTC could revisit $111k–$110k, where leveraged longs would be vulnerable.
🧩 Positioning & Narratives
Leveraged traders added longs around $112k, leaving downside risks if momentum falters.
Order book bids remain strong, supporting the case for a squeeze higher.
On-chain activity (positive address growth) continues to flash constructive signals.
Jim Cramer’s latest call to “buy crypto” adds an ironic twist: his track record often marks local tops for altcoins more than BTC.
🌐 Altcoin Watch
Ethereum (ETH): Still showing room to run, with upside potential toward $4,600 if BTC holds above $114k.
Solana (SOL): Targets sit at $235 and $270, contingent on Bitcoin’s stability.
Market tone suggests a possible “reluctant alt season”, where gains keep grinding higher despite traders waiting for a correction that never comes.
📌 Key Takeaways
BTC on course for highest quarterly and monthly close ever if $115.7k holds.
Gold’s YTD rally highlights Bitcoin’s relative underperformance and potential catch-up trade.
Technical roadmap: above $116.6k opens $120k; below $111k risks $110k retest.
ETH eyes $4,600, SOL $235–$270 if BTC maintains momentum.
Government shutdown narrative may fuel safe-haven flows, but needs real confirmation.
🎯 Strategy Snapshot (levels only, not advice)
Short-term bias: Long from $115k, stop $107k, target $140k.
Medium-term bias: Rally strengthens above $121k; target $150k.
Long-term bias: Cycle projection still points toward $230k; key support $72k.