Markets
What to know:
- Bitcoin is edging dangerously close to its lowest price since June.
- The U.S. Dollar Index (DXY) has climbed above 100, a level known for putting the squeeze on everything from Bitcoin to tech stocks.
- The U.S. government shutdown has now entered its 35th day, tying the 2018-2019 record for sheer endurance, with whispers suggesting it could last longer than your average holiday hangover.
It seems Bitcoin has decided to take a stroll back to its old haunts, hovering around the $103,000 mark. That’s a solid 20% dip from its all-time high of $126,500, set only a couple of weeks ago. Ah, the volatility of crypto-always keeping us on our toes, or perhaps it’s just reminding us that nothing lasts forever.
The last time Bitcoin fell below the $100,000 mark was in June, when tensions between the U.S. and Iran had the world holding its breath. But now, it’s just a waiting game, as we witness the eerie dance between cryptocurrency and the bureaucratic nightmares unfolding in Washington.
Speaking of Washington, the U.S. government shutdown has now dragged on for 35 days. That ties the record set in 2018-2019 for the longest government nap in history. Prediction markets, those ever-optimistic fortune-tellers, are suggesting that this could stretch past mid-November. As a result, Bitcoin and other risk assets continue to bear the brunt of this political drama.
Meanwhile, the U.S. Dollar Index (DXY) has taken a jaunt above 100, the first time it’s done so since August 1st. If you’re wondering what that means for you, it’s simple: when the dollar gets stronger, it generally means more trouble for Bitcoin and other risk-loving assets. So, tech stocks are feeling the pinch as well, with futures pointing toward a downward spiral and the Invesco QQQ Trust (QQQ) showing a dismal 1.5% dip in pre-market trading. All in all, it’s shaping up to be a real roller-coaster day for anyone holding crypto or tech stocks.
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2025-11-04 14:28