Bitcoin Surges Past $116K Despite U.S. Government Shutdown: Is $120K Next?
October 2, 2025 · 2:00 AM
Bitcoin surged past $116,000 with a 3% daily gain, despite the U.S. government entering its first shutdown since 2018, affecting 750,000 federal workers. The total cryptocurrency market cap increased to $4.09 trillion, with Bitcoin's dominance rising from 57% to 59%. Factors fueling Bitcoin's rally include significant inflows into U.S. spot Bitcoin ETFs, healthy market conditions, and favorable seasonal trends in October.
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