The US government suddenly shuts down, but the crypto market unexpectedly benefits.

The U.S. Congress really couldn't reach an agreement this time, and the federal government has shut down directly, marking the first time since 2018. Hundreds of thousands of federal employees will not receive their salaries, and even critical data such as the non-farm payroll report may be delayed, causing chaos in the market.
But the astonishing thing is that the price of Bitcoin not only didn't drop but instead rose, directly breaking through $116,000. This indicates that more and more people are treating BTC as a safe-haven asset, rushing here when political risks arise. Traditionally, people buy gold for safety, and indeed, gold prices have also reached new highs this time, but Bitcoin's performance is equally eye-catching.
The deeper impact is on monetary policy expectations. With key economic data not being released, the Federal Reserve has less data support for decision-making, leading the market to generally believe they will adopt a more dovish stance. CME data shows that the probability of a 25 basis point rate cut in October soared to over 99% at one point. Once the expectation of a rate cut arises, risk assets naturally rise.
However, the government shutdown is not entirely a good thing for the crypto industry. Regulatory bodies like the SEC have also come to a halt, with their official website directly announcing the suspension of reviews for new financial product applications. The approval of spot ETFs for Solana and XRP will definitely be delayed, adding uncertainty to the altcoin market.
The crypto community is vocal in its criticism of the government's inefficiency. Many people take this opportunity to emphasize the superiority of decentralized systems like Bitcoin, arguing that the government frequently shuts down and that it is better to use BTC. This sentiment may also have driven retail investors to buy in.
In the short term, risk aversion and loose expectations should still support BTC prices, but the delay in ETF approvals is a problem for altcoins. Investors need to keep a close eye on the political dynamics in Washington, as this has a direct impact on the market. #打榜优质内容#