Bitcoin Holds Steady Amid Looming US Government Shutdown Impacting Crypto Regulation

Bitcoin and Ethereum prices have remained relatively stable amid growing concerns over a potential U.S. government shutdown, with Bitcoin trading around $113,435 and Ethereum near $4,153. Despite political uncertainty and the looming shutdown, some experts, including John Glover of Bitcoin lender Ledn, view any market dips as buying opportunities, citing past shutdowns during President Trump's administration where markets recovered quickly. However, prediction markets show increased bearish sentiment, with many traders anticipating continued price declines. The shutdown threatens to halt regulatory activities by agencies like the SEC and CFTC, delay crypto-related legislation, and impact ongoing efforts such as cryptocurrency ETF listings. Traditional markets have shown mixed reactions, with gold reaching record highs while equities staged late-day rallies as investors await political outcomes. Overall, the crypto market is exhibiting caution and volatility as political gridlock introduces uncertainty, challenging the notion that cryptocurrencies are fully decoupled from traditional macroeconomic events.