The US government shutdown, marking a first since 2018, may extend beyond a week if unresolved. Despite the absence of employment data on Friday, prior ADP figures solidified rate cut expectations. Consequently, cryptocurrencies experienced a second wave of growth post-PCE data release. Uncertainty looms over when the shutdown will conclude.
US Government Shutdown and Cryptocurrencies
In tandem with the shutdown, Trump proposed refunding tariffs to citizens, mentioning checks of 1-2 thousand dollars. This liquidity support, reminiscent of the pandemic period, influenced the BTC surge. If Trump suggests such a notion, it’s likely ahead of the 2026 mid-term elections.
Is the government shutdown ending soon? White House Press Secretary Leavitt was speaking as this article was prepared, and her key statements were as follows:
“Trump will host Canadian Prime Minister Carney on Tuesday. Trump will welcome the Finnish President on Thursday. A cabinet meeting is scheduled for Thursday.
Trump is ready to sign the proposal to reopen the government as soon as it reaches his desk (the process hasn’t reached this stage yet. Hence, the shutdown will persist at least for several more days).
Trump has met with Senate Majority Leader and House Speaker Johnson. The administration is working diligently to expedite the process.
Trade will be a topic of discussion with Canadian Prime Minister Carney. Tariff reductions have been debated, but no decision has been made yet.”
BTC surpassed $125,800 at the time of writing and is being traded at $125,200. A new all-time high was observed minutes ago, and upcoming ETF data, close to the daily closure, is eagerly anticipated.
