Crypto Market Slips as U.S. Government Shutdown Looms – Crypto News – Crypto News
Connect with us
Crypto Market Slips as U.S. Government Shutdown Looms Crypto Market Slips as U.S. Government Shutdown Looms

De-fi

Crypto Market Slips as U.S. Government Shutdown Looms – Crypto News

Published

8 months ago

on

Bitcoin and Ethereum retreat alongside broader markets as liquidations spike.

The crypto market edged lower on Tuesday, Sept. 30, giving back some of yesterday’s gains as investors weighed macro headwinds, including the risk of a potential U.S. government shutdown.

Bitcoin (BTC) is trading around $113,101, down roughly 0.7% on the day. Ethereum (ETH) is hovering near $4,120, declining about 1.1% over the past 24 hours, according to data from The Defiant’s price page.

BTC Chart

Among major altcoins, Solana slipped 2.2% to $205 and XRP eased 2.3% to $2.83. BNB is down 1.3% to $998, while TRON fell 0.8% to $0.33.

Elsewhere, Monero’s XMR jumped 2.3% to $292, while Plasma’s XPL dropped nearly 22% to $0.90.

Overall, the total crypto market capitalization decreased by 1% over the past day to $3.96 trillion, with Bitcoin dominance at 57% and Ethereum at 12.6%.

Liquidations, ETFs, and Investment Products

In the past 24 hours, nearly $354 million in crypto positions were liquidated, per Coinglass data, with longs accounting for around $227 million and shorts making up around $127 million.

Ethereum led with nearly $79 million in liquidations, followed by XPL at around $50 million, while BTC accounted for approximately $43 million.

Spot Bitcoin ETFs recorded nearly $522 million in inflows on Sept. 29, following two straight days of withdrawals. Meanwhile, spot Ethereum ETFs attracted around $547 million, breaking a five-day streak of outflows that totaled $796 million, according to SoSoValue.

Government Shutdown Uncertainty

Tuesday’s pullback comes as investors weigh macro uncertainty. With a midnight deadline looming, Congress remains deadlocked over government funding, CNN reported, raising the risk of the first shutdown of President Donald Trump’s second term.

The standoff has added to market jitters, with analysts warning a shutdown could disrupt government services, worsen consumer confidence, and inject fresh volatility into risk assets, including crypto.

“A U.S. federal government shutdown would create short-term uncertainty in traditional markets, but it also underscores why crypto markets continue to matter,” Sid Powell, CEO of Maple, told The Defiant. “With parts of Washington effectively paused, capital looks for alternative venues to stay productive and liquid.”

He added that crypto assets can fill that gap, offering 24/7 access and transparent settlement when other assets stall. “We may see short bursts of volatility, but this can also highlight the resilience of digital assets, stablecoins, and on-chain credit,” Powell added.

Related Topics:
Continue Reading

Trending