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Wall Street’s appetite for digital assets surged as the US Senate finally hammered out a deal, potentially ending a crippling 40-day government shutdown and injecting fresh confidence into the market.
Washington held its breath. Sunday saw the US Senate inch closer to averting a government shutdown, pushing forward a key procedural vote. All eyes are now on Monday, where a final showdown vote promises to either restore full government function or plunge the nation into deeper uncertainty. The clock is ticking.
After a report-fueled frenzy, crypto markets bounced back, revealing some unexpected winners. Starknet’s STRK token stole the show, rocketing over 43% and leaving other coins in its dust. But the real surprise? World Liberty Financial’s WLFI token, backed by Trump, surged a remarkable 28% in the last 24 hours, according to CoinMarketCap, hinting at a possible political play in the digital currency game.
As the government shutdown clock winds down, could a wave of relief wash over the crypto market? Nicolai Sondergaard, research analyst at Nansen, suggests the receding tide of “financial uncertainty” might just be the catalyst global investors need to dive back into digital assets, potentially igniting a powerful market recovery.
The government shutdown plunged markets into an eerie twilight. The flow of critical economic data choked to a trickle, policy pronouncements vanished into thin air, and regulatory gears ground to a halt, leaving investors groping in the dark, desperately seeking a flicker of light.
With the government back in business, expect investors to ditch the guesswork and focus on tangible data. The shutdown sidelined crucial federal reports, leaving markets adrift in speculation. Now, solid economic ground can finally influence investment decisions, according to Sondergaard.
Top 10 gainers by 24-hour performance. Source: CoinMarketCap
Related: James Wynn goes ‘all-in’ on shorting Bitcoin after 12 liquidations in 12 hours
Institutions restart Ether accumulation fueled by the perspective of US government shutdown end
With the 40-day government shutdown potentially in its rearview mirror, institutional investors are back on the Ether (ETH) bandwagon, snapping up crypto’s second-largest asset as average spot order data surges.
Ethereum could be settling into a phase of steady growth, a “low-volatility accumulation” period, analysts at CryptoQuant suggest. The key? Ether needs to hold its ground above the $3,000-$3,400 mark. Watch this range – it might be the foundation for Ethereum’s next climb.
Source: CryptoQuant
The fate of this market rebound hinges on the floodgates of Bitcoin and Ether ETF inflows. Will institutional investors truly buy in, fueling sustained demand? Or will this just be another flash in the pan driven by retail traders and fleeting momentum? Nomura Group’s Laser Digital trading desk believes the ETF flow will be the ultimate deciding factor. Their recent report, shared with Cointelegraph, suggests this influx will separate a true recovery from a temporary surge.
Related: Michael Saylor’s Strategy kickstarts November with $45M Bitcoin buy
Looming end of government shutdown raises hopes of altcoin ETF “floodgates”
Crypto ETF analyst Nate Geraci believes the end of the regulatory logjam signals the dawn of a new era, potentially unleashing a torrent of ETF approvals.
With the government shutdown curtain falling, crypto analyst Geraci predicts a deluge of spot ETFs hitting the market, igniting speculation about a potential XRP ETF debut. Could the ’33 Act pave the way?
21Shares is poised to make waves, potentially launching the first XRP exchange-traded product (ETP). This milestone would mark only the fourth altcoin ETP to debut under the stringent Act of 1933, a framework previously navigated by the groundbreaking spot Bitcoin and Ether ETFs. Interestingly, while these crypto giants gained approval under the same act, their listings fall under the Securities Exchange Act of 1934, highlighting the complexities of exchange oversight.
Crypto ETF dreams on hold: Government shutdown stalls 16+ applications, day 40 and counting. Will regulators greenlight the crypto revolution, or is this just another bureaucratic ice age?
Magazine: Sharplink exec shocked by level of BTC and ETH ETF hodling Joseph Chalom
Thanks for reading End to US gov’t shutdown sparks institutional buying ETF ‘floodgate’ hopes
