Bitcoin Rallies as US Shutdown Ends — Sustainability in Question
Bitcoin recovery gained momentum after news that the US government shutdown was resolved, restoring confidence across risk assets. With millions of furloughed employees returning to work, consumer spending and official economic data flow will normalize, helping traders gauge Federal Reserve policy outlook. Bitcoin (BTC) bounced from near $99,000 support and now faces key technical hurdles at the 50-, 100-, and 200-day moving averages around $110,000–$113,000. A sustained breakout above these levels could target $115,000 and $120,000, while a failure below $100,000 risks a deeper pullback toward $75,000.
Meanwhile, interest in Bitcoin Hyper (HYPER), a Layer-2 presale solution for Bitcoin scalability, has surged, raising $26 million in weeks. This project aims to enhance transaction throughput while leveraging Bitcoin’s security. Traders should watch macro-economic data releases and technical confirmation to validate the rally. Overall, market sentiment is cautiously optimistic, but a clear catalyst will be needed to cement a lasting uptrend.
Bullish
The end of the US government shutdown removed a major source of uncertainty, fueling a short-term Bitcoin rally and reviving risk appetite. Historical precedents, such as prior fiscal resolutions, have triggered similar bullish moves in BTC. The return of economic data will offer clarity on Federal Reserve policy, potentially confirming a sustained uptrend if positive surprises emerge. Technical resistance at $110,000–$113,000 is key: a successful breakout could propel prices toward $120,000, while a failure would risk deeper corrections. Additionally, growing demand for Layer-2 solutions like Bitcoin Hyper (HYPER) underlines structural support for Bitcoin’s ecosystem. Overall, the news leans bullish, though traders should await data and price confirmation.