Directed the major cryptocurrencies lower during the Asian negotiation hours on Thursday, because the chances of a closure of the United States government reached record summits on the decentralized Paris Polymarket platform.
The price of shares on the yes for the Paris contract “The closure of the American government in 2025?” Passed at 77%, the highest since the launch of the contract in January. Merchants essentially assess a probability of 77% that the American office of personnel management will announce a closure due to a credit period by December 31. Meanwhile, the probability of a stop by October 1 was 63%.
According to the media, the White House is preparing for large -scale employment cuts in the event of closure. On Wednesday, the management and budget office published a note asking agencies to prepare plans for staff discounts and leave if an expense bill is not adopted next week.
The government is expected to lack money by the end of September. To prevent the resulting closure, the congress must either approve a short -term financing measure, known as continuous resolution, or adopt 12 annual financing invoices. Since the legislators will not end the annual invoices before the deadline, a temporary financing stopgap is necessary.
More importantly, to reach the threshold of 60 votes necessary to adopt financing invoices, the support of both parties is generally necessary.
BTC, ETH under pressure
Ether dropped more than 3% in Asia, testing almost $ 4,000 for the first time on August 8, with falling from more than 1% to less than $ 112,000. Other major tokens such as ,, And fell from 2.6% to 3%. Solana’s solan seemed to relax below $ 200.
The Coindesk 20 index fell by 2% to 3,940 points. Meanwhile, the term contracts linked to the S&P 500 and the Nasdaq, exchanged flat towards positive.
Although the exact cause of the prudent feeling of the cryptography market is not clear at the time of writing the time of writing, increasing concerns concerning a potential government closure could contribute to the mood opposite to risk among investors.
In addition, the comments of the day the day after the president of the Fed of San Francisco, Mary Daly, reiterated her support for new rate decreases, but refused to provide a calendar, rather stressing the dependence on the data, which may have affected the feeling.
The Fed reduced the rates of 25 base points on September 17 while referring to two additional rate drops by the end of the year. Since then, decision -makers, including President Jerome Powell, have reported a cautious approach to the cuts of future rate.
Seven Fed officials, including Williams of the New York Fed, should speak on Thursday. Meanwhile, traders await Friday’s PCE data, the preferred Fed inflation measure.
“If the inflation pressures appear contained, the markets can interpret this as a place for new nourished cuts, providing rear liquidity winds in the fourth quarter. This could be the catalyst of the BTC to try a long -awaited break,” said the Singapore Capital Market Insights team.
