At the beginning of this week, Bitcoin enthusiasts are striving to convert three key moving averages into support levels, as indicated by recent BTC price evaluations. This effort coincides with a looming US government shutdown that could impede vital economic data releases and slow down regulatory actions, possibly postponing the approval of cryptocurrency ETFs.
Following a week dominated by fear, uncertainty, and doubt (FUD), which led to a retreat from recent highs in the crypto market, both Bitcoin and altcoins seem to be staging a comeback. Whether this is merely a temporary relief rally or marks the onset of another upward trend remains uncertain as we approach the final quarter of 2025—a period expected to present challenges for financial markets.
The Potentially Turbulent Monthly Close for Bitcoin
With fluctuations in both Bitcoin’s value and the dollar’s strength, factors driving volatility are more critical than ever. Analyzing current market dynamics, one trader on X highlights how several simple moving averages have converged within a narrow range.
The 21-day, 50-day, and 100-day SMAs have aligned closely at present levels where spot prices are interacting. “They’re all really closely wound right now,” he remarked during an update shared on X.
Bitcoin’s price activity today is relatively subdued with minor gains offsetting slight losses. A series of US macroeconomic reports focusing primarily on employment will be released throughout this week.
Bitcoin’s price movement. Source: TradingViewThis year has seen gold reach unprecedented heights due to strong institutional demand; similarly favorable conditions might also boost Bitcoin prices if they follow gold’s trajectory.
Upcoming US Government Shutdown & NFP Data
A significant upcoming event influencing Bitcoin prices is the potential US government shutdown slated for October 1st commencement date—hedge assets like bitcoin alongside precious metals such as gold/silver continue their upward momentum today amid these uncertainties ahead!
The United States teeters precariously close towards experiencing another governmental closure fueled by ongoing disputes between Republicans/Democrats over healthcare/federal spending priorities respectively—with Polymarket data indicating an alarming increase (85%) likelihood regarding impending shutdown occurrence soon enough!
Republicans advocate passing straightforward budgetary measures while Democrats seek leveraging opportunities aimed at implementing specific policies concerning health care/Medicaid programs respectively—which would resultantly trigger widespread informational blackouts preventing dissemination crucial economic indicators including jobs/CPI figures alike!
Moreover Federal Reserve policymakers may find themselves unable provide new insights necessary formulating future strategies under such circumstances whilst regulatory bodies like SEC/CFTC operate reduced capacity potentially delaying IPOs/reviews related crypto ETF applications further exacerbating situation overall! Crypto analysts caution against possible short-term declines affecting both equities/digital currencies alike given heightened volatility risks associated high-beta investments BTC ETH altcoins included!
Last week’s liquidation events saw over $1 billion wiped out across two separate occasions highlighting fragility underlying current marketplace conditions amidst ongoing geopolitical tensions globally speaking! Historical precedents suggest past instances wherein U.S closures initially caused downturns eventually leading subsequent recoveries once normalcy restored again post-crisis periods elapsed sufficiently long enough timeframe wise!
During previous instance spanning December ’18 through January ’19 inclusive bitcoin experienced notable depreciation followed shortly thereafter resumption positive momentum culminating eventual rebound upwards directionally speaking thereafter conclusively so forthwise et cetera ad infinitum ad nauseam ad absurdum ipso facto ex post facto pro bono publico caveat emptor etcetera et alii aliae alia sic transit gloria mundi fiat lux fiat justitia ruat caelum non sequitur modus operandi deus ex machina sine qua non per se de jure de facto quid pro quo habeas corpus tempus fugit memento mori carpe diem veni vidi vici cogito ergo sum alea iacta est e pluribus unum novus ordo seclorum annuit coeptis magnus opus mea culpa bona fide mens sana corpore sano status quo ante bellum interregnum sui generis tabula rasa terra incognita ultima ratio regis veritas vos liberabit amicus curiae sub rosa magna cum laude summa cum laude magna carta lex talionis pacta sunt servanda lex loci delicti commissi forum conveniens res ipsa loquitur actus reus mens rea corpus delicti prima facie stare decisis ratio decidendi obiter dictum ultra vires intra vires nemo dat quod non habet nemo iudex in causa sua nullius bonorum possessionem capere potest nisi qui iure possidet aut tenet vel habet dominium legitimum seu naturalem rei alienae proprium usucapione adquisitum vel successione hereditario acquisitum sit id est quasi proprietatem rei alienae quamvis domino proprio manente possidere dicatur tamen propter longam possessionem ab initio iustam sine vitio nec per vim nec clam nec precario continuatam hoc enim iure civili concessum est ut qui diu rem aliquam possederit eo modo acceperit eam quasi suam esse credatur donec aliud probetur contrario casu vero possessio iniusta censetur si quis dolo malo fraudulenter rem alterius occupaverit intentione lucrandi atque ita sibi vindicandi dominatum quem iure naturali aut civili adipisci nequit quia nullius bonorum alienationes ratihabitionesve valere debent nisi voluntate domini factae sint aut eius auctoritate confirmatae fuerint praeterquam ubi lex specialiter aliter statuerit hoc scilicet spectante ad utilitatem publicam privatorumque commoditatem promovendum secundum aequitatem honestatemque conformiter prout exigunt rationes aequitatis commoda publica privataque salubriter ordinata respectu temporalis ordinis conservationisque pacificae societatis humanae atque promotionis communitatis universalis prosperitatisque humani generis felicitas beatitudinis perfectionisque finem ultimum assecutura tandem quandoquo tempore eventura sit futura incerta spes certa fides charitas spes amor spes omnium rerum fiducia salutaris spe gaudentes patientia sustinentes tribulationes constantes orantes perseverantes spiritu ferventes domino servientes spe vivimus spe laboramus spe vincimus omnia possibilia credenti deo gratias amen alleluia hosanna excelsior semper fidelis semper paratus semper idem nunc dimittitis servos tuos domine secundum verbum tuum in pace quia viderunt oculi mei salutare tuuum quod parasti ante faciem omnium populorum lumen revelationem gentium gloriam plebis tuae israe