Bitcoin Reached Record Prices with the Shutdown of the US Government

Bitcoin Surges to New Record Prices

With the federal government shutdown in the U.S. leading to increased financial uncertainties, the value of Bitcoin has been directly affected. Due to fluctuations in the cryptocurrency markets, the price of Bitcoin reached $125,559, setting a new record. According to analysis data, the total value of cryptocurrencies worldwide, including Bitcoin, increased by approximately 1.5% in the last 24 hours, reaching $4 trillion 260 billion.

Economic Effects of the Government Shutdown

As of October 1, a budget disagreement between Democrats and Republicans in the U.S. led to the government shutdown. This situation has increased uncertainty in the markets, directing investors towards cryptocurrencies. It’s noteworthy that Bitcoin broke its previous record from August 14 due to strong demand. During this period, the rise in U.S. stock prices and the influx into Bitcoin-related exchange-traded funds supported the price increase. As of 09:15 UTC, Bitcoin was trading at $125,149, showing a weekly increase of approximately 15%.

Status of Ethereum and Other Cryptocurrencies

Ranking second in market value, Ethereum experienced a price increase of about 1.1%, rising to $4,570. This increase indicates that other cryptocurrencies correlated with Bitcoin have also been positively affected.

Financial Uncertainties and Investor Confidence

The government shutdown is delaying the release of significant economic data. Particularly, the delay of unemployment claims data from the Bureau of Labor Statistics not only increases financial risks but also disrupts the essential data flow for the U.S. Federal Reserve (Fed), creating uncertainty regarding interest rate cuts. This situation is accelerating investors' search for safe havens, which has also begun to affect the prices of precious metals like gold.

Conclusion and Future Expectations

Analysts agree that the government shutdown will negatively impact the country's Gross Domestic Product (GDP) growth. The uncertainties created by a prolonged shutdown indicate that investors are turning towards safe assets. A decrease in confidence in the dollar could lead to broader effects in the markets.