What’s Next for Bitcoin if US Government Shutdown Ends?

💡 DMK Insight

Bitcoin’s surge to $105,972 is closely tied to the Senate’s recent agreement, and here’s why that matters: This political development could signal increased institutional confidence, potentially driving BTC towards that $150K target by year-end. Traders should note that such optimism often leads to short-term volatility, especially as profit-taking kicks in. Watch for resistance around $110K, as breaking through could set the stage for a more sustained rally. However, if BTC fails to hold above $100K, it might trigger a wave of selling, especially from retail investors looking to lock in gains. On the flip side, while the bullish sentiment is palpable, it’s worth questioning whether this rally is sustainable or merely a reaction to external factors. Keep an eye on broader market trends and economic indicators that could impact investor sentiment. For now, monitor BTC’s performance closely, particularly around key psychological levels like $100K and $110K, as these will dictate short-term trading strategies.