Senate to Vote on Ending Government Shutdown, Bitcoin Volatility Looms
The U.S. Senate is set to vote on a bill to reopen the federal government on Wednesday. Republican leader John Thune is hopeful for Democratic support, aiming to end the ongoing shutdown that's causing market uncertainty, particularly in cryptocurrencies like Bitcoin.
As of 01:54 UTC on October 1, 2025, Bitcoin (BTC) is trading at $114,451.45, with a market cap of 2.28 trillion and a 58.30% overall market dominance. Despite recent volatility, BTC has seen a 5.94% rise over the past 30 days. However, the past 24 hours saw a 5.30% decrease in trading volume and a mere 0.07% growth in the last day.
Historically, U.S. government shutdowns have had minor impacts on cryptocurrencies, with no long-term effects observed. Market reactions to the looming vote are mixed, with some expressing volatility during shutdowns. The Senate vote could alter market perceptions and cause short-term volatility, but the fundamental landscape remains unchanged.
The Senate vote on Wednesday could bring clarity to the ongoing government shutdown, potentially easing market uncertainty and volatility in cryptocurrencies. Despite recent fluctuations, Bitcoin's long-term prospects remain robust, with a strong market dominance and significant 30-day growth.
