Bitcoin and Ethereum remained relatively stable early Tuesday, as the deadline for Congress to pass a funding bill to prevent a U.S. government shutdown approached.
Currently, Bitcoin is valued at $113,435, showing no change over the past day but experiencing a minor 0.4% increase in the last hour. Meanwhile, Ethereum has decreased by just 0.3% today and is trading at $4,153 according to data from CoinGecko.
The looming political uncertainty and possible delays in crucial U.S. economic reports have left some Bitcoin traders feeling uneasy. Participants on Myriad—a prediction platform owned by Decrypt‘s parent company DASTAN—are not very hopeful about Bitcoin’s performance during the first half of this week.
A significant 85% of users predict that BTC will experience at least 48 consecutive declines before noon on Wednesday—a stark rise from Monday when opinions were almost evenly split.
However, John Glover—the chief investment officer at Bitcoin lending firm Ledn—remains optimistic despite these concerns.
He pointed out that President Donald Trump experienced two shutdowns during his initial term and seemed open to using them as negotiation tactics.
The first shutdown under Trump’s administration lasted three days in January 2018; the second extended for an unprecedented 35 days—the longest in U.S history.
“Although previously employed as leverage against congressional holdouts for more flexible negotiations,” he explained to Decrypt, “these instances were largely perceived as temporary disruptions with risk markets initially declining but quickly rebounding.” He added that any drop in digital asset prices due to such events would likely be seen as buying opportunities by investors.”
The House Republicans opted not for comprehensive appropriations but instead passed a stopgap measure ensuring government funding until November 21st; however this resolution includes healthcare benefit reductions affecting millions of Americans which has sparked opposition among Democrats.”
The Republican majority holds only slight control over Senate proceedings—with their count standing at just fifty-three seats—they require bipartisan cooperation securing sixty votes needed bypass filibuster threats regarding legislation passage.”
This morning marked ten o’clock Eastern Time resumption Senate activities where voting scheduled occur later today concerning continuation resolution proposal approval”