๐ Crypto Market Dips as U.S. Shutdown Risks Climb
Markets turned risk-off Thursday as shutdown fears rattled sentiment:
ETH slid 3% to $4,037, nearing the $4K mark for the first time since August.
BTC dropped to $111,839 (-1%), while XRP, SOL, DOGE shed 2โ3%.
SOL is flirting with a key $200 support level.
The CoinDesk 20 Index slipped 2% to 3,940.
๐ Drivers behind the drop:
U.S. Government Shutdown Odds: Polymarket now prices a 77% chance by year-end and 63% by Oct. 1. The White House is already preparing contingency plans for furloughs and job cuts.
Fed Uncertainty: Rate cuts are on the table, but policymakers remain cautious. Traders await Fridayโs PCE inflation data for clarity.
๐ก QCP Capital notes: if inflation stays in check, more Fed cuts could boost liquidity into Q4 โ setting the stage for a potential BTC breakout.
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