U.S. Government Shutdown Odds Drop as Political Talks Resume

The likelihood of a U.S. government shutdown has decreased to 63%, reports Kalshi, after House Minority Leader Jeffries expressed optimism in avoiding this scenario on September 28.

A government shutdown could elevate macro volatility, affecting BTC and ETH through sentiment shifts, while political gridlock continues to dominate trader anxieties.

Political Leaders’ Moves and Market Adjustments

A significant shift occurred in the shutdown predictions as key political figures plan to resume dialogue. Former President Donald Trump was expected to meet with congressional leaders, but canceled amidst disagreements over spending demands. Political gridlock has been a major concern, with House Minority Leader Jeffries describing an “optimistic” outlook for avoiding a shutdown.

Jeffries criticized Trump’s decision, highlighting entrenched partisanship. The markets responded with a measured reaction, emphasizing uncertainty.

“Unserious and ridiculous demands…pushing for over $1 trillion in new spending tied to health care and social programs.” – Donald Trump, Former President source

Bitcoin’s Stability Amid Political Uncertainty

Did you know? Shutdown threats have historically influenced market behavior, impacting both traditional and digital assets.

Bitcoin (BTC) remains stable amidst these discussions, with its current price around $109,843.50 as per CoinMarketCap data. The market cap stands at approximately $2.19 trillion, and BTC’s dominance holds at 57.82%. Despite a recent 7-day decrease of 4.98%, the 30-day performance shows a 1.08% increase, suggesting potential resilience.

The Coincu research team notes that shutdown risks may influence regulatory timelines and market psychology. They further emphasize the need for traders to consider crypto’s past resilience during government crises, supported by historical cases. Bitcoin and other digital assets may continue to display relative stability in light of evolving situations.