Bitcoin climbs over $125K driven by retail demand amid US government shutdown
Key Takeaways
- Bitcoin price surged to $125,000, mainly driven by increased retail investor demand.
- The ongoing US government shutdown heightened governance risk, leading investors to seek safe-haven assets like Bitcoin.
Bitcoin climbed over $125,000 driven by retail demand amid the ongoing US government shutdown, according to QCP Capital, a cryptocurrency trading and analysis firm.
The surge reflects renewed accumulation as investors turn to Bitcoin. Retail investors are driving demand through spot purchases, coinciding with trends showing whales keeping coins off exchanges and in long-term storage.
Bitcoin is increasingly positioned as a safe-haven asset during federal shutdowns, which halt non-essential services and delay economic data releases, heightening uncertainty for traditional markets.
The US government shutdown is causing furloughs at agencies like the SEC, potentially delaying cryptocurrency-related approvals and reviews.
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