Myriad Moves: Bitcoin Odds Flip Bearish as Traders Expect Longest US Gov Shutdown in History

The current economic climate has shaken crypto traders, as Bitcoin's price has fallen around 4% to approximately $107,659. Predictions for Bitcoin's next price movement have shifted from bullish to bearish, with market sentiment indicating a 43% chance of it reaching $120,000, down from earlier highs of 75%. This volatility has been influenced by market events, including comments from Fed Chair Jerome Powell regarding potential interest rate cuts and a recent meeting between U.S. President Donald Trump and Chinese leader Xi Jinping. Additionally, the U.S. government shutdown has entered its second month, raising expectations that it could become the longest in history, with predictors currently showing an 83% likelihood of surpassing the previous record. Altcoins BNB and XRP are also in a tight race for market cap position, with BNB currently favored to outrank XRP, amid widespread price declines across the crypto space as uncertainty continues to loom.

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