bitcoin The price is approaching its lowest level since June 24, trading near $103,000. It is now about 20% below its October 6 all-time high of $126,500.
The last time bitcoin traded below $100,000 was in late June, when tensions between Iran and the United States erupted.
Meanwhile, the US government shutdown has entered its 35th day, tying 2018-2019’s record as the longest in history. Prediction Market Polymarket indicates that the shutdown is likely to extend beyond November 16, which will continue to put pressure on bitcoin.
The US dollar index (DXY), a measure of the currency’s strength against a basket of major currencies, recently rose above 100 for the first time since August 1, a move that typically pressures risk assets such as cryptocurrencies and stocks. Tech stocks are also weakening, with futures pointing lower and the Invesco QQQ Trust (QQQ) falling about 1.5% in premarket trading.
