Citing Coindesk, Bitcoin surged to its highest level in over two months on Friday, with prices briefly reaching $119,455, as the U.S. government shutdown delayed key economic data. Ether, XRP, Solana, and Doge also rose between 4% to 7%. The rally followed a government shutdown caused by a funding stalemate in Congress, which may delay the nonfarm payrolls report and influence Federal Reserve policy. 21Shares' Matt Mena suggested the shutdown could lead to a positive liquidity impulse, historically supporting Bitcoin. Amberdata's Greg Magadini noted that options on Deribit appear cheap due to a steep contango in implied volatility, making strategies like long straddles attractive for potential volatility.
Bitcoin Rallies to Two-Month High Amid U.S. Government Shutdown
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