Crypto Market Stalls Amid U.S. Government Shutdown
Bitcoin holds steady as altcoins wobble during the U.S. government shutdown, reflecting mixed market sentiment.
- Bitcoin stays above $114K despite shutdown uncertainty
- Ethereum and altcoins show mixed performance
- Market sentiment remains neutral with $435M liquidated
As the U.S. government shutdown begins, uncertainty has crept into the crypto market. Investors appear cautious, with Bitcoin (BTC) managing to hold its ground above the $114,000 mark. BTC rose slightly by 0.5% to $114,538, signaling that some confidence still lingers despite broader economic instability.
Ethereum (ETH), however, dipped by 1.3% to $4,140, indicating a more hesitant stance among altcoin traders. Overall, altcoins showed mixed results, with no clear direction, reflecting the market’s indecision during this political deadlock.
Neutral Sentiment Dominates
The Fear & Greed Index (FGI) sits at 49 — a perfectly neutral score. This mirrors the crypto community’s sentiment: not overly optimistic, but not panicking either. Market participants seem to be adopting a wait-and-see approach while monitoring developments in Washington.
Adding to the pressure, total crypto liquidations reached $435 million in the past 24 hours, a sign of volatility despite Bitcoin’s stability. The overall market cap stands at $4.14 trillion, showing resilience but not enough energy to push into a full bullish trend.
Bitcoin Steady, But Risks Loom
Bitcoin’s performance during the shutdown suggests it may be viewed as a digital safe haven by some investors. However, the broader market is still highly sensitive to U.S. fiscal policy and regulatory actions. A prolonged government shutdown could dampen investor enthusiasm, or on the flip side, push more users into decentralized assets if traditional systems falter.
For now, the crypto space remains in limbo — steady, but not surging — as traders assess the potential impact of political instability on economic markets.
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