Cryptocurrencies: Profiting from the shutdown

Cryptocurrencies have been weak for weeks, but now they are rising significantly. The government shutdown in the US is providing a boost. However, the old crisis currency, gold, is leaving Bitcoin & Co. far behind. 

2 October 2025. FRANKFURT (Börse Frankfurt).  The crypto market is coming back to life – Bitcoin is once again heading towards its all-time high. Due to the shutdown in the US, many are looking for “safe havens.” In addition to gold, cryptocurrencies are also in demand.

Since reaching a record high of $124,034 in mid-August, Bitcoin had fluctuated between $107,000 and $117,000. On Thursday morning, it was back up to almost $119,000. Ethereum, Solana, and Cardano are also on the rise. After reaching a record high of $4,951 on August 24, the price of Ethereum had fallen below $3,900, but is now back at $4,400.

Last quarter was historically the best

Since the beginning of the year, this represents an increase of 27 percent for Bitcoin and 32 percent for Ethereum. However, the price of a troy ounce of gold has risen by almost 50 percent this year. “Gold tends to react more strongly to monetary policy and the performance of the US dollar, while Bitcoin is currently more influenced by global growth forecasts,” explains André Dragosch from issuer Bitwise. He is more optimistic about Bitcoin for the fourth quarter. “Historically, the last quarter has often been very positive. November even tends to be the best month of the year.”

Matt Mena of 21Shares also points to the historically strong performance in the final quarters. “So it would not be surprising if Bitcoin surpassed its all-time high in October and perhaps even reached a price level between $140,000 and $150,000 by the end of the year,” he explains. Added to this is the factor of key interest rates, as another interest rate cut of 25 basis points is likely in the US in October.

“Volatility has fallen, market has matured”

Dovile Silenskyte of WisdomTree points to the significant decline in Bitcoin volatility. “The annualized 90-day volatility of Bitcoin has fallen below 30 percent. This shows that the asset class has matured,” she notes. Bitcoin is no longer just a temporary bet. “Rather, it is being used for strategic allocation in diversified institutional portfolios.”
Inflows since the beginning of the year

According to WisdomTree, more than $1.1 billion has flowed into physically backed Bitcoin ETNs in Europe since the beginning of the year, and $23.3 billion globally. For Ethereum, the issuer reports $141 million in Europe and over $11 billion globally.