Amid the U.S. government shutdown, the Treasury Department's general account has been locked, resulting in over $200 billion in liquidity being frozen. Overnight borrowing rates have soared to crisis levels. This article is based on a piece by EeeVee, compiled, translated, and written by TechFlow.
(Previous highlights: Bitcoin surged to $98,000, Ethereum approached the $20,000 mark, and the market entered "extreme panic" with 480,000 traders liquidated.)
(Additional background: Bitcoin suddenly spiked to $100,000 overnight! BTC has dropped over 5.8% in 24 hours.)
The U.S. government shutdown has officially entered its 36th record-breaking day. Over the past two days, global financial markets have plummeted. The declines have affected the Nasdaq, Bitcoin, tech stocks, the Nikkei index, and even safe-haven assets like U.S. Treasuries and gold.
Market panic is spreading, yet Washington politicians continue to bicker over the budget. Is there a connection between the government shutdown and the global market downturn? The answer is beginning to emerge.