Morning shock in the crypto space 🚨
Over $631M got liquidated within just 24 hours, leaving traders reeling from sudden volatility. The week kicks off with heavy losses across major exchanges, shaking confidence across the board.
🔍 What sparked the drop?
Fresh worries about a potential U.S. government shutdown are in the spotlight. Trump warned that if Congress doesn’t pass the funding bill, parts of the government could close on October 1. This fear rattled traditional markets and spilled into crypto, where reactions tend to be even sharper.
📉 Why it matters:
Panic selling adds pressure and sparks more liquidations
A shutdown could tighten dollar liquidity, hitting stablecoins and overall stability
Leveraged positions mean even small shocks can snowball into massive moves
🌐 The bigger picture:
For long-term holders, this could look like an entry point. History shows that shutdown dips don’t usually last once political uncertainty clears.
🔥 Bottom line: Crypto is once again showing how global politics can move markets just as much as on-chain news. Keep an eye on Washington this week—the funding bill deadline is coming fast.
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