"Bitcoin extended its losses on Tuesday, falling by more than 1% and retreating below the $123,000 mark. The decline comes after a period of intense volatility that saw the cryptocurrency repeatedly test new highs. The current reversal in bitcoin reflects a cooling of the strong bullish momentum that fuelled recent gains, coming at a time when concerns about the prolonged U.S. government shutdown are intensifying."
"With no resolution in sight, investors are beginning to reassess risk exposure across all asset classes. The lack of progress in Washington, combined with rising uncertainty over economic policy and government spending, has weighed on speculative assets like bitcoin, which tend to thrive in liquidity-rich environments. Bitcoin still finds some indirect support from record-breaking stock market performance, as capital inflows continue to circulate within broader risk assets."
Bitcoin dropped more than 1%, retreating below $123,000 after a period of intense volatility and repeated tests of new highs. The recent reversal signals cooling bullish momentum amid growing concerns about the prolonged U.S. government shutdown. Investors are reassessing risk exposure across asset classes as political gridlock raises uncertainty over economic policy and government spending. The shutdown and stalled legislation have weighed on speculative assets that benefit from ample liquidity. Record-breaking stock market performance provides some indirect support for bitcoin, but that link is fragile and downside risks could amplify if equities correct or political deadlock persists.
Read at London Business News | Londonlovesbusiness.com
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