1. Bitcoin surged 3.1% to $116,312 amid U.S. government shutdown uncertainty. 2. Cryptos benefit as shutdown could weaken the U.S. dollar. 3. Further shutdown could hinder Fed's rate cut justification due to data suspension. 4. Historically, October is a strong month for Bitcoin; 10 gains in 12 years. 5. High borrowing costs may deter crypto investments in the future.
The article indicates a positive trend for Bitcoin and other cryptocurrencies during a government shutdown. Historical patterns suggest seasonal strength for Bitcoin could also apply indirectly to SPY's broader market impact.
The article highlights factors that can affect SPY, particularly through the relationship with investor sentiment and market dynamics amid economic uncertainty.
The immediate effects of the government shutdown can influence market sentiment quickly, particularly if investors view crypto as a safe haven amid uncertainty.