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Bitcoin Price Today: Rally Above $114K Stalls Amid U.S. Government Shutdown
Bitcoin traded in a narrow range on Wednesday, pausing its short-term rally above $114,000 as investors grew cautious amid the start of the U.S. government shutdown and uncertainty over the release of key economic data.
The world’s largest cryptocurrency was up 0.5% at $114,514.6 as of 09:10 Moscow time, hovering near a 10-day high.
Bitcoin staged a sharp rebound earlier in the week thanks to whale accumulation, after tumbling the previous week amid mass liquidations and selling pressure.
The U.S. federal government entered a partial shutdown at 07:00 Moscow time after lawmakers failed to pass a stopgap funding bill. The Senate late Tuesday rejected the Republican measure in a 55–45 vote, leaving federal agencies unfunded.
President Donald Trump defended the shutdown, saying it would allow his administration to take “irreversible” steps, including closing federal programs and cutting spending. His remarks signaled a prolonged standoff that could worsen the economic fallout.
The shutdown also cast uncertainty over the release of the U.S. nonfarm payrolls report due Friday. Any delay or disruption could cloud the labor market outlook and complicate the Federal Reserve’s next monetary policy decision.
Bitcoin had risen in the prior session on seasonal optimism tied to October, often dubbed “Uptober,” but the rally paused as broader caution took hold.
Cryptocurrencies, often seen as high-risk assets, came under pressure from fiscal policy uncertainty and monetary expectations in the U.S.
Gold prices hit a fresh all-time high on Wednesday, while global equity markets retreated, reflecting broader risk-off sentiment.
Crypto Prices Today: Altcoins Subdued Amid Global Caution
- Ethereum slipped 1.1% to $4,141.69.
- XRP fell 1.7% to $2.85.
- Solana dipped 0.5%, while Cardano and Polygon were little changed.
- Dogecoin traded flat, while $TRUMP dropped 1.8%.
See also: "Approval Probability of Cardano ETF at 91%. Analysts Predict ADA Growth"
