The United States federal government is on track for another shutdown by the end of Friday. The Congressional Democrats have been pushing for changes to ICE policies, thus standing in the way of President Donald Trump.
On Thursday, the Senate blocked the House-approved 6-bill spending package with a vote of 45–55. This is after the Senate included extended DHS funding through September 30 with no meaningful reforms.
The bill failed to reach the 60 votes needed, after a bipartisan group – including all Democrats and 7 Republicans – voted against it rather than hand DHS a blank check.
Prediction traders have shown uncertainty about the potential federal government shutdown. According to Polymarket, the odds for a U.S. government shutdown are 50%, a sign drop from earlier this week as traders anticipated a last-minute bipartisan deal.
The last U.S. government shutdown increased bearish sentiment on crypto, thus accounting for heightened traders’ fear. According to market data from CoinMarketCap, the Fear and Greed Index hovered around 38 at press time, which represents fear of further capitulation.
Bitcoin price will experience heightened volatility over the weekend following its drop below $84k on Thursday. The flagship coin dropped over 5% in the last 24 hours to trade at about $84,462 at press time.
According to market analyst Aksel Kibar, the Bitcoin price is en route to a new multi-month low, potentially to retest its April 2025 support level around $76k.
Source: X
However, Bitcoin price may find a solid support level around $80k if a budget is passed in the coming days. Furthermore, institutional investors led by Strategy and Metaplanet have been accumulating more Bitcoins as Wall Street analysts predict a market reversal for the precious metal industry.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The United States Senate Committee on Agriculture has narrowly passed its portion of the Clarity…
Talk of an XRP exchange-traded fund (ETF) may be moving from speculation to possibility, according…
Bitcoin price has once again been trading under pressure after failing to sustain higher levels,…
After weeks of persistent selling pressure and failed recovery attempts, Solana holders are once again…
The Trump-linked USD1 stablecoin has surged past a $5 billion market capitalization, quickly cementing its…
Bitcoin is trading in a tight range as the crypto market heads into the first…
