Government Shutdown Liquidity Drain Evident
Bitcoin and the rest of the crypto market continued the trend of not just losing ground, but notably sliding the most during U.S. market hours.
Following a recent pattern, BTC had bounced to as high as $104,000 overnight but reversed course in early U.S. hours, plunging below $100,000 in the early afternoon hours on the east coast and now lower by 1.7% over the past 24 hours.
The retreat came amid a steep broad decline in risk assets as investors come to grips with the idea that the Fed — at the moment — doesn’t appear intent on cutting rates in December. The Nasdaq is down 2% and S&P 500 1.3%.
Crypto-linked equities were hit hard once more, especially miners with heavy AI infrastructure and data center exposure. Bitdeer…
