Sword Inu
no crying in the casino
streamoors
IGNITION
Altai the Tiger
Pearl
Quantus
The crypto market rebounded sharply just hours after the U.S. government shutdown was confirmed. This sudden move triggered over $625 Million in liquidations. Traders responded swiftly, driving prices higher across major digital assets.
Currently, Bitcoin and altcoins are exhibiting hedge-asset-like characteristics, with a strong start to Q4. BTC price and all top altcoins, including XRP, BNB, SOL, and ADA, are up 3% as bullish sentiment regains strength.
Crypto Market Liquidations Shoot $625 Million After US Government Shutdown
Bitcoin and the broader crypto market have surged sharply following the announcement of the US government shutdown. This triggered a total of $625 Million in market-wide liquidations.
Of these, $401 Million has been in short liquidations, according to Coinglass data. In the last 24 hours, 173,890 traders were liquidated. Earlier today, the whale with short and long positions was engaged in a tight battle.
However, the bulls took over, liquidating the shorts. ETH has outpaced BTC in terms of short liquidations over the last 24 hours.
Crypto market renewed strength amid the US government shutdown, highlighting that investors are eager for the ‘Uptober’ rally. Q4 has historically been very bullish for BTC and altcoins. Analysts anticipate the next major bull run is in the making.
Crypto Market Rally Begins for Bitcoin and Altcoins?
BTC price has shown substantial gains, increasing by over 3.2% in the last 24 hours and surging to $116,000. Although BTC has surged past the short-term resistance of $115K, investors are eyeing a bigger breakout ahead.
Market analysts note that Bitcoin’s liquidity profile is shaping up around two critical price zones. The $118K–$119K region has emerged as a primary liquidity cluster, overlapping with a previously high-volume trading zone.
BTC bulls need to surge past this zone and break out of the current consolidation zone. Historically, Bitcoin has posted gains in October during 10 of the past 12 years. This fuels optimism for another strong month ahead.
On the downside, liquidity is concentrated in the $ 107,000–$ 108,000 range. This aligns with the lows in August and September. Analysts warn that if October and Q4 are to remain bullish, Bitcoin should avoid revisiting this lower level. Popular crypto market analyst Ted Pillows noted:
Along with Bitcoin, altcoins have shown major strength today, following last week’s correction. Ethereum price is up 3% today, trading around $4,300, while XRPL, SOL, DOGE, and ADA have each gained 3-6%.
How Will the U.S. Government Shutdown Affect Cryptocurrency?
On October 1st, the U.S. government officially began a partial shutdown. This followed Congress’s failure to reach a funding agreement. The Senate rejected two separate bills aimed at avoiding the shutdown.
The Republican-backed proposal fell short with a 55–45 vote, while the Democratic measure was defeated 53–47. Both failed to secure the 60 votes required for passage.
Crypto analyst Ted Pillows warned that a U.S. government shutdown could disrupt key economic data releases. He said this would pose serious challenges for investors.
Pillows said the shutdown would delay several major economic reports. These include the jobs report on October 3 and the trade balance on October 7.
Key inflation data, such as the CPI and PPI, scheduled for release in mid-October, would also be affected. He emphasized that uncertainty is harmful to markets.
