U.S. Government Shutdown May Help Bitcoin to Recover
Bitcoin prices are adding 1.6% to $27,000 per coin since the beginning of the week. It seem no to be enough to keep the gains, as Bitcoin is moving in a downside formation that may drag its prices to $25,000. So, Bitcoin needs prices above $27,500 to continue up.
There are no positive drivers in the horizon as the U.S. SEC is likely to approve spot Bitcoin ETF in January 2024. Global sentiment in the market is improving amid conciliatory comments of the Federal Reserve officials. So, what else could help Bitcoin to recover? The U.S. government shutdown may help if it would last for a prolonged period. The Fed may ultimately reverse its hawkish rhetoric amid cooling economy. So, this might be a good support for digital assets, and Bitcoin in particular.
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