{"id":89462,"date":"2025-10-01T13:45:03","date_gmt":"2025-10-01T10:45:03","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=89462"},"modified":"2025-10-01T13:53:43","modified_gmt":"2025-10-01T10:53:43","slug":"bitcoin-tops-116000-as-us-government-shuts-down","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-tops-116000-as-us-government-shuts-down\/","title":{"rendered":"Bitcoin tops $116,000 as US government shuts down"},"content":{"rendered":"<p>On September 30 the US government <a href=\"https:\/\/www.whitehouse.gov\/government-shutdown-clock\/\">shut down<\/a> for the first time since 2018. Bitcoin rose 3.2%, breaching $116,000.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"603\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-81c1ba461ab98958-5707976101394185-1024x603.png\" alt=\"image\" class=\"wp-image-266718\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-81c1ba461ab98958-5707976101394185-1024x603.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-81c1ba461ab98958-5707976101394185-300x177.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-81c1ba461ab98958-5707976101394185-768x452.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-81c1ba461ab98958-5707976101394185-1536x905.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-81c1ba461ab98958-5707976101394185.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly chart of BTC\/USDT on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=BINANCE%3ABTCUSDT\">TradingView<\/a>.\u00a0<\/figcaption><\/figure>\n<p>The shutdown stems from a lack of agreement between Republicans and Democrats on health-care funding.\u00a0<\/p>\n<p>As a result, around 750,000 federal employees were placed on unpaid furlough and some government offices were closed, <a href=\"https:\/\/apnews.com\/article\/government-shutdown-congress-trump-health-care-54b2a584657a0b619bc8326708a05604\">Associated Press<\/a> noted.\u00a0<\/p>\n<p>As <a href=\"https:\/\/eu.usatoday.com\/videos\/news\/2025\/09\/30\/trump-says-shutdown-could-bring-a-lot-of-good-despite-layoffs\/86446821007\/\">USA Today<\/a> writes, US President Donald Trump said the shutdown would bring \u201ca lot of good\u201d. In his words, it will help \u201cget rid of\u201d Democratic Party policy.<\/p>\n<p>According to <a href=\"https:\/\/www.economist.com\/united-states\/2025\/09\/30\/what-would-a-shutdown-mean-for-americas-economy\">The Economist<\/a>, the current shutdown may have the following consequences:<\/p>\n<ul class=\"wp-block-list\">\n<li>delays in the publication of key economic indicators such as employment and inflation;<\/li>\n<li>more complicated decisions on the policy rate of the <span data-descr=\"US Federal Reserve System\" class=\"old_tooltip\">Fed<\/span>;<\/li>\n<li>a short-term rise in unemployment.\u00a0<\/li>\n<\/ul>\n<p>The previous US government shutdown began on December 22, 2018 and lasted until January 25, 2019 \u2014 35 days. It was the longest in more than 40 years, <a href=\"https:\/\/edition.cnn.com\/politics\/longest-government-shutdown-vis\">CNN<\/a> noted. That shutdown also occurred during Mr Trump\u2019s presidency.\u00a0<\/p>\n<p>According to estimates by the Congressional Budget Office, it cost the United States about $3bn in lost <span data-descr=\"Gross domestic product\" class=\"old_tooltip\">GDP<\/span>. According to calculations by analytical resource The Kobeissi Letter, the current shutdown will cost the US budget around $400m a day.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The US government shutdown:<\/p>\n<p>For the first time since 2018, the US is about to enter a government shutdown and investors are bracing for it.<\/p>\n<p>This would furlough 750,000 workers PER DAY, costing ~$400M in daily compensation.<\/p>\n<p>What does it all mean? Let us explain.<\/p>\n<p>(a thread) <a href=\"https:\/\/t.co\/oewTTeOATc\">pic.twitter.com\/oewTTeOATc<\/a><\/p>\n<p>\u2014 The Kobeissi Letter (@KobeissiLetter) <a href=\"https:\/\/twitter.com\/KobeissiLetter\/status\/1973107796536361038?ref_src=twsrc%5Etfw\">September 30, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, experts <a href=\"https:\/\/forklog.com\/en\/news\/what-a-us-government-shutdown-would-mean-for-crypto\">assessed<\/a> the shutdown\u2019s impact on the crypto market, predicting a brief correction. Digital assets, however, rose.\u00a0<\/p>\n<h2 class=\"wp-block-heading\">What is happening in the crypto market?\u00a0<\/h2>\n<p>Over the past 24 hours the total value of digital assets increased by 3.2% to $4.09trn. All top-10 cryptocurrencies by market value rose.<\/p>\n<p>Dogecoin, Solana and Ethereum led the daily gains.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"688\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-92d3ea18ad7827f5-5708019184579068-1024x688.png\" alt=\"image\" class=\"wp-image-266719\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-92d3ea18ad7827f5-5708019184579068-1024x688.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-92d3ea18ad7827f5-5708019184579068-300x202.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-92d3ea18ad7827f5-5708019184579068-768x516.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-92d3ea18ad7827f5-5708019184579068-1536x1032.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-92d3ea18ad7827f5-5708019184579068.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.\u00a0<\/figcaption><\/figure>\n<p>At the time of writing bitcoin is trading around $116,400. According to Glassnode, the leading cryptocurrency\u2019s dominance has increased from 57% to 59%.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-5b678b6fc4be009b-5708032064230384-1024x576.png\" alt=\"image\" class=\"wp-image-266720\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-5b678b6fc4be009b-5708032064230384-1024x576.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-5b678b6fc4be009b-5708032064230384-300x169.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-5b678b6fc4be009b-5708032064230384-768x432.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-5b678b6fc4be009b-5708032064230384.png 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/studio.glassnode.com\/charts\/market.BtcDominance?a=BTC&#038;c=native&#038;mScl=lin&#038;resolution=24h&#038;zoom=all\">Glassnode<\/a>.\u00a0<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis reversion to the mean points to a healthier market structure, as bitcoin-led rallies have historically proved more durable than altcoin-driven moves,\u201d analysts noted.<\/p>\n<\/blockquote>\n<p>Some community members pointed out that three of the past five US government shutdowns coincided with a rally in bitcoin. In their view, this time is no exception.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8 BREAKING: US GOVERNMENT SHUTDOWN ODDS TOMORROW: 84%<\/p>\n<p>IT SEEMS LIKE A US GOVERNMENT SHUTDOWN IS IMMINENT NOW.<\/p>\n<p>Historically, 3\/5 shutdowns or shutdown threats triggered a <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> pump. <a href=\"https:\/\/t.co\/DqJjOPeGNu\">pic.twitter.com\/DqJjOPeGNu<\/a><\/p>\n<p>\u2014 Al\u039ex Wacy \ud83c\udf10 (@wacy_time1) <a href=\"https:\/\/twitter.com\/wacy_time1\/status\/1973053094058770597?ref_src=twsrc%5Etfw\">September 30, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>MN Capital founder Micha\u00ebl van de Poppe expects the current rise to continue. On October 1 bitcoin, he said, tested key support at $112,000 before bouncing. He called it the start of another bull rally.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">There has been a quick retest of the $112K region and an immediate bounce upwards.<\/p>\n<p>Strong performance of <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> and I think that we&#8217;re in for a bullish month and quarter. <\/p>\n<p>Q4 has started, good times are ahead of us. <a href=\"https:\/\/t.co\/IyXsDR6tdU\">pic.twitter.com\/IyXsDR6tdU<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1973281727243075971?ref_src=twsrc%5Etfw\">October 1, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cBitcoin is showing strong performance, and in my view we are in for a bullish month and quarter,\u201d he wrote.\u00a0<\/p>\n<\/blockquote>\n<p>Investor Ted Pillows <a href=\"https:\/\/x.com\/TedPillows\/status\/1972983871273926956\">noted<\/a> that the next key resistance lies around $117,500. If surpassed, digital gold \u201cmay start moving to a new all-time high\u201d.\u00a0<\/p>\n<p>The expert also pointed to two sizeable liquidity clusters in bitcoin now:\u00a0<\/p>\n<ul class=\"wp-block-list\">\n<li>the first in the $107,000-108,000 area, with $8bn in long liquidations;<\/li>\n<li>the second at $118,000-119,000 with $7bn in short liquidations.<\/li>\n<\/ul>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> has 2 decent liquidity clusters right now.<\/p>\n<p>One around the $107,000-$108,000 level, which has $8 billion in long liquidations.<\/p>\n<p>The other is around the $118,000-$119,000 level, which has $7 billion in short liquidations.<\/p>\n<p>Which one do you think will happen first? <a href=\"https:\/\/t.co\/8dBuyQMoUj\">pic.twitter.com\/8dBuyQMoUj<\/a><\/p>\n<p>\u2014 Ted (@TedPillows) <a href=\"https:\/\/twitter.com\/TedPillows\/status\/1973310919682740447?ref_src=twsrc%5Etfw\">October 1, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The analyst known as Daan Crypto Trades stressed that bitcoin has moved towards the top of a bull-flag channel and is attempting a breakout.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> Made its way towards the top of the channel\/bull flag and is attempting a break out.<\/p>\n<p>The $112K is a key short term support going forward. Ideally don&#8217;t want to see price re-visit that.<\/p>\n<p>Up to the bulls to take it from here, a proper breakout &#038; some daily closes above the\u2026 <a href=\"https:\/\/t.co\/WIEDjawZrq\">https:\/\/t.co\/WIEDjawZrq<\/a> <a href=\"https:\/\/t.co\/z7MmiCJtBD\">pic.twitter.com\/z7MmiCJtBD<\/a><\/p>\n<p>\u2014 Daan Crypto Trades (@DaanCrypto) <a href=\"https:\/\/twitter.com\/DaanCrypto\/status\/1973333558552129560?ref_src=twsrc%5Etfw\">October 1, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe $112,000 level is now a key short-term support. In an ideal scenario, price should not revisit this mark. It is up to the bulls from here: a proper breakout and a few daily closes above the channel boundary will be my signal that the market is ready to move to new highs,\u201d the expert said.\u00a0<\/p>\n<\/blockquote>\n<p>Earlier, analysts <a href=\"https:\/\/forklog.com\/en\/news\/analysts-predict-uptober-despite-market-fear-signals\">forecast<\/a> Uptober despite fear signals.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On September 30 the US government shut down for the first time since 2018. Bitcoin rose 3.2%, breaching $116,000.<\/p>\n","protected":false},"author":1,"featured_media":89463,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Analysts forecast further gains for the first cryptocurrency","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1146,1138,26],"class_list":["post-89462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptocurrency-market-forecasts","tag-opinions","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"312","promo_type":"1","layout_type":"1","short_excerpt":"Analysts forecast further gains for the first cryptocurrency","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=89462"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89462\/revisions"}],"predecessor-version":[{"id":89464,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89462\/revisions\/89464"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/89463"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=89462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=89462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=89462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}