Crypto could get relief as US Senate cuts deal to end shutdown: Report

💡 DMK Insight

The Senate’s budget deal could be a game changer for crypto markets, and here’s why: With the threat of a government shutdown easing, investor sentiment might shift positively, boosting liquidity and risk appetite in the crypto space. A stable regulatory environment is crucial for institutional players, and this development could signal a more favorable backdrop for crypto investments. If we see a surge in buying pressure, watch for key resistance levels that could be tested, particularly if Bitcoin and Ethereum start breaking above their recent highs. However, it’s worth noting that this optimism could be short-lived if economic indicators, like inflation or employment data, don’t align with market expectations. Traders should keep an eye on upcoming economic reports that could influence market sentiment. The immediate focus should be on how major cryptocurrencies react in the next few days, especially if they can maintain momentum above critical support levels. Watch for Bitcoin around its 50-day moving average, as a decisive move here could set the tone for the next leg up or down.