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U.S. Shutdown Leaves 750K Workers Furloughed as Markets See Crypto, Gold Surge

The U.S. government shutdown is taking a toll on workers and the economy. But in the markets, cryptocurrencies and gold are soaring, with Bitcoin holding steady and gold experiencing its best month in a decade.

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In this picture, we see the coin in gold and brown color. We see some text written as "The United...
In this picture, we see the coin in gold and brown color. We see some text written as "The United States Of America". It might be a money coin. In the background, it is brown in color and it looks like a carpet.

U.S. Shutdown Leaves 750K Workers Furloughed as Markets See Crypto, Gold Surge

The recent U.S. government shutdown has left 750,000 workers furloughed, with the country incurring a daily cost of $400 million. This is not a continuation of a previous shutdown but a new event that began at midnight in Washington.

Meanwhile, in the financial markets, options skew indicated a rise in demand for downside protection, despite implied volatilities remaining near historic lows. In the cryptocurrency sphere, spot ETFs saw significant inflows, with $430 million for BTC and $127 million for ETH, with no redemptions reported.

Bitcoin traded within a narrow range of $113.3K-$114.8K, maintaining critical supports at $111K and $108K. Ethereum held steady above $4,100, while Solana weakened below $210, and BNB stayed above $1,000. Notably, gold surged by 12% in September, marking its best month since 2011, due to increased demand for hard assets.

The U.S. government shutdown continues to impact workers and the economy, with the daily cost reaching $400 million. In the markets, cryptocurrencies and gold have seen significant movements, with Bitcoin maintaining a narrow range and gold experiencing its best month in a decade.

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