Will History Repeat? Bitcoin Traders Eye Rally as US Shutdown Deal Nears
Bitcoin traders are anticipating a potential rally as the record US government shutdown nears an end following political progress.Summary
As the longest US government shutdown in history appears close to resolution, Bitcoin traders are looking for a repeat of history, referencing the 2019 shutdown's aftermath which preceded a 300% rally in BTC.
Senate Democrats are reportedly ready to advance bipartisan spending bills, potentially leading to a vote soon to fund the government through January 30. While analysts note that the 2019 reopening acted as a sentiment catalyst, the subsequent rally was also driven by broader factors like improving liquidity and post-crypto winter recovery.
Currently, Bitcoin is trading up slightly, and open interest has increased, suggesting optimism. However, some analysts caution against expecting a direct correlation, noting that Bitcoin's next major move will likely depend more on monetary signals and US liquidity conditions than on the political deal itself.
(Source：BeInCrypto)