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What Happens to Bitcoin If the US Government Shuts Down?

A potential government shutdown could delay the release of important jobs data, which Bitcoin traders depend on to predict Federal Reserve interest rate cuts, leading to increased volatility in the crypto market. Currently, Bitcoin has climbed above $114,000 but still lags behind its price from two weeks ago. Historical data shows varied reactions to past shutdowns: during the 2013 shutdown, Bitcoin rose 14%, while it fell 6% during the 2018-2019 closure. The market is on edge, as a delay in jobs data could impact investor sentiment and decision-making regarding Fed rate cuts. Analysts warn of the possibility of heightened market fragility and volatility, depending on how quickly Congress resolves the funding issue. Despite these uncertainties, previous shutdowns indicate that Bitcoin can perform well, although the prevailing market conditions play a crucial role in influencing its price. As investors brace for potential impacts, the situation remains fluid with sharp price fluctuations likely ahead.

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The U.S. Securities and Exchange Commission (SEC) has requested crypto exchange-traded fund (ETF) issuers to withdraw their 19b-4 filings, facilitating a quicker approval process following a recent rule change. This new regulation allows exchanges to list certain commodity-based crypto ETFs without requiring individual SEC reviews, significantly reducing regulatory obstacles.

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