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

Bitcoin's market has turned bearish as traders anticipate the longest government shutdown in U.S. history. Currently priced around $107,659, Bitcoin saw a 3.5% decline over 24 hours, contributing to market uncertainties that have led to a significant shift in predictions. Predictions for Bitcoin's next movement, once favoring a rise to $120,000, have fallen to a mere 43% as bearish sentiment gains traction. Meanwhile, the ongoing U.S. government shutdown, now entering its 30th day, has raised fears that it will surpass the previous record, with Myriad market predictors estimating an 83% likelihood of this outcome. Additionally, a competitive battle between altcoins BNB and XRP sees odds shifting as their market capitalizations are closely contended, currently favoring BNB. As the cryptocurrency market grapples with these uncertainties, analysts are left wondering whether Bitcoin and others will stabilize or continue to decline amid external pressures from potential governmental resolutions and economic conditions ahead.

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