As per Cryptonews, Bitcoin has surged 12% over the past seven days amid the ongoing U.S. government shutdown, reaching $123,944.70. Experts attribute the rally to the 'debasement trade,' where investors shift to assets like Bitcoin and gold amid declining confidence in the U.S. dollar. Four industry experts, including Juan Leon of Bitwise and James Gernetzke of Exodus, highlighted factors such as loose monetary policy, strong economic data, and seasonal trends. Bitcoin ETFs have seen over $2.3 billion in inflows since late September. While some warn of potential corrections if the shutdown prolongs, others argue the shutdown is unlikely to trigger a pullback. Ether, BNB, and Solana also rose sharply, with speculation growing around potential altcoin ETF approvals.
Bitcoin Rallies 12% Amid U.S. Government Shutdown, Eyes on 'Debasement Trade'
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