Bitcoin and Ethereum Plummet with Government Shutdown

Uncertainty in Global Crypto Markets

The prices of cryptocurrencies continued to remain under pressure on Friday, amidst the uncertainty brought about by the partial government shutdown in the United States. Bitcoin, although trading at $83,559 with an increase of approximately 1% during the day, has experienced nearly a 7% decline over the past week.

Weekly Declines of Ethereum and XRP

Meanwhile, other major crypto assets such as Ethereum and XRP also experienced sharp declines on a weekly basis. The short-lived government shutdown, combined with the already tightened weekend liquidity, turned into an emotional stress test for the markets. This situation caused investors to act more cautiously and make more prudent purchases with smaller positions.