He led the main lower cryptocurrencies during Thursday’s Asian negotiation hours, since the probabilities of a closure of the United States government reached maximum records on the Polymarket decentralized betting platform.
The price of the shares of the Yes for the betting contract “forgotten of the United States government in 2025?” It rose to 77%, the highest since the launch of the contract in January. Merchants are essentially a 77% probability that the United States personnel administration office will announce a closure due to a period of allocations before December 31. Meanwhile, the probability of a closure before October 1 stood at 63%.
According to media reports, the White House is preparing for large -scale job cuts in case of closing. On Wednesday, the Office of Administration and Budget issued a memorandum asking the agencies that prepare plans for the reductions and licenses of the staff if an expense bill is not passed next week.
According to reports, the government is expected to stay without money by the end of September. To avoid the resulting closure, the Congress must approve a short -term financing measure, known as a continuous resolution or approve 12 financing bill throughout the year. Since legislators will not finish invoices all year before the deadline, a temporary financing stopp is needed.
More importantly, to reach the 60 voting threshold to approve financing invoices, the support of both parties is generally necessary.
BTC, ETH under pressure
Ether fell more than 3% in Asia, almost testing $ 4,000 for the first time on August 8, with falling more than 1% to less than $ 112,000. Other important tokens such as , and It fell 2.6% to 3%. The sun of Solana was scheduled to break below $ 200.
The Coendesk 20 index dropped 2% to 3,940 points. Meanwhile, the futures linked to the S&P 500 and Nasdaq, were negotiated from plane to positive.
Although the exact cause of the cautious feeling of the cryptography market was not clear at the time of writing, the growing concerns about a possible closure of the government may have contributed to the mood reacted by the risk among investors.
In addition, the comments during the night of the president of the Fed of San Francisco, Mary Daly, reiterated their support for more rates cuts, but refused to provide a timeline, instead, emphasizing the dependence of the data, which may have harmed the feeling.
The Fed reduced the rates at 25 basic points on September 17, while hinting two more rates cuts for the end of the year. Since then, policy formulators, including President Jerome Powell, have indicated a cautious approach to future tariffs.
It has been scheduled that seven Fed officials, including the Williams of the Fed in New York, spoke on Thursday. Meanwhile, merchants expect the PCE data on Friday, the preferred inflation measure of the Fed.
“If inflation pressures appear contained, markets can interpret this as a space for more fed cuts, providing winds of liquidity tail in the fourth quarter. That could be the catalyst for BTC to try a long -awaited break,” said the Market Insights team of QCP capital with Singapore headquarters.
