Asia Morning Briefing: Bitcoin Rebounds as Polymarket Traders Bet U.S. Shutdown Will End Within Days
Bitcoin and Ethereum rebounded as traders bet the U.S. government shutdown would end soon following a bipartisan funding deal.Summary
Bitcoin (BTC) and Ethereum (ETH) rebounded overnight, gaining 4.2% and 7.4% respectively, as risk sentiment improved following news of a bipartisan funding deal in the U.S. Senate. Traders on Polymarket significantly increased the odds of the government reopening by mid-week, reversing earlier expectations that the shutdown would extend past November 16. The deal funds the government until January 30 and includes provisions that secured Democratic support. Despite the general relief signaling a return of liquidity to major crypto assets, the easing uncertainty has tempered expectations for a Cardano ETF approval by year-end, with odds dropping from 90% to 38%. The article also notes ongoing disruptions from the shutdown, such as FAA flight reductions and halted USDA food-stamp payments.
(Source：CoinDesk)