Here’s how Bitcoin investors can trade the tension surrounding a U.S. government shutdown
Rumors of a US government shutdown impact asset prices, including Bitcoin. Here’s how BTC options traders can capitalize on the 45 day funding deadline. Bitcoin’s (BTC) price bull run towards $28,000 on Oct. 1 was partially fueled by the uncertainty regarding the United States debt limit. However, the U.S. President Joe Biden signed the spending bill just hours before the Sept. 30 deadline, avoiding a government shutdown . Investors now question if the momentum remains favorable for cryptocurrencies given that the worst-case political-economic scenario is no longer on the table. However, it is worth noting that this bill merely provides extra funding for the next 45 days, giving more time for the House and Senate to work on their funding plans for 2024. At first glance, it might be tempting for investors to use futures contracts to go long on Bitcoin. However, there's a significant risk of getting liquidated if the price suddenly drops, and it's impossible to predict whethe...