Bitcoin Reacts To News Of US Government Shutdown Averting

10/02/2023

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Both parties have reached an agreement that will keep the government running for another 45 days. Amid this news, Bitcoin is reacting positively.

The U.S. government is on the verge of a shutdown due to disagreements over the national debt ceiling. Both parties have agreed to extend the stay of work for another 45 days. However, this solution does not eliminate the main problem, as the funding legislation is still far from finalized.

However, the cryptocurrency community reacted positively to the news. The major cryptocurrency is seeing growth. Immediately after the news, Bitcoin rose by 3%, reaching the $28,000 mark. At the time of writing, the cryptocurrency has risen to the $28,327 mark. The asset is entrenched at a strong resistance level and if the bulls manage to push the price above the 200-week MA, the asset could test a local high near $32,000. Recently, Bitcoin's dominance has exceeded the 50% mark.

Source & Copyright TradingView

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