Kalshi, a regulated exchange for event contracts, is forecasting a prolonged U.S. government shutdown. The platform's market data suggests a significant probability of a shutdown extending for nearly 50 days.
Bitcoin's Correlation with Nasdaq
In parallel, Bitcoin's price movements are closely mirroring those of the Nasdaq Composite index. This correlation highlights the increasing integration of cryptocurrencies within broader financial market trends.
Resilience of Long-Term Holders
Recent Exchange-Traded Fund (ETF) data has indicated that long-term Bitcoin holders have remained resilient. Despite market fluctuations, these holders have not shown signs of significant selling pressure, suggesting a belief in the long-term value of Bitcoin.