"Bitcoin has traded sideways in recent months, but key liquidity indicators suggest a breakout may be near. Global M2 growth, stablecoin supply trends, and gold's rally - which Bitcoin has closely tracked with a 40-day lag - all point toward upward momentum, with some analysts eyeing $150,000 in early November. Futures on the three major U.S. indexes pointed lower today ahead of the opening bell in premarket trading: the S&P 500 was down 0.58%, Dow futures off 0.52%, and Nasdaq futures lower by 0.67%."
"The shutdown means the Bureau of Labor Statistics will not release weekly jobless claims or the September payrolls report. Inflation data slated for mid-October could also be delayed if the standoff drags on. This week's economic outlook is murky, with no jobs report on Friday, leaving the Federal Reserve to make rate decisions in the dark. Economists warn that each week of a government shutdown could trim GDP growth by 0.1-0.2 percentage points, with a quarter-long closure potentially shaving 2.4 points off Q4."
The U.S. government shut down at midnight after funding expired, leaving large parts of the federal apparatus closed, affecting Social Security recipients, federal workers, and travelers. Markets showed stress with futures on U.S. indexes trading lower. The Bureau of Labor Statistics will not release weekly jobless claims or the September payrolls report, and inflation data slated for mid-October could be delayed, complicating Federal Reserve decisions. Economists estimate each week of shutdown could trim GDP by 0.1–0.2 percentage points, with a quarter-long closure potentially shaving 2.4 points off Q4. Gold and Bitcoin surged as investors sought safe havens, and liquidity indicators and institutional adoption point toward further upside for Bitcoin, with some analysts eyeing $150,000.
Read at Bitcoin Magazine
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