BTC Price Approaches Lowest Since June, as U.S. Government Shutdown Hits Joint Longest

The bitcoin price is nearing $103,000, approaching its lowest level since late June. This decline coincides with the ongoing U.S. government shutdown, which has now reached its 35th day, tying the record set during 2018-2019. The strengthening U.S. Dollar Index (DXY), now above 100 for the first time since August, is exerting additional pressure on riskier assets, including Bitcoin and technology stocks. Currently, Bitcoin is trading approximately 20% lower than its peak of $126,500 reached on October 6. Additionally, a prediction market suggests the shutdown may continue beyond mid-November, further threatening Bitcoin's price stability. Meanwhile, technology stocks are underperforming as futures indicate a downward trend in pre-market trading. Investors are closely monitoring these developments as they could significantly influence cryptocurrency markets and related sectors.

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