{"id":53947,"date":"2025-10-02T04:20:26","date_gmt":"2025-10-02T04:20:26","guid":{"rendered":"https:\/\/emilynews.com\/blog\/?p=53947"},"modified":"2025-10-02T04:20:27","modified_gmt":"2025-10-02T04:20:27","slug":"bitcoin-pushes-for-118k-as-analysis-calls-us-govt-shutdown-non-event","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=53947","title":{"rendered":"Bitcoin pushes for $118K as analysis calls US gov\u2019t shutdown \u2018non-event\u2019"},"content":{"rendered":"<p>Bitcoin eyes its highest levels in six weeks as weak US jobs data drives crypto and risk assets higher, with shutdown dips now \u201cbuy opportunities.\u201d<\/p>\n<p><strong>Key points:<\/strong><\/p>\n<ul>\n<li>\n<p data-ct-non-breakable=\"undefined\">Bitcoin is trying to break $118,000 for the first time since mid-August.<\/p>\n<\/li>\n<li>\n<p>US labor market weakness drives crypto and risk assets higher despite the US government shutdown.<\/p>\n<\/li>\n<li>\n<p data-ct-non-breakable=\"undefined\">Any dips are \u201cbuy opportunities,\u201d BTC price analysis says.<\/p>\n<\/li>\n<\/ul>\n<p>Bitcoin sought six-week highs after Wednesday\u2019s Wall Street open as markets shrugged off the US government shutdown.<\/p>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-10\/0199a078-9f6a-706b-97cc-3feef2bdf07c\" alt=\"\" \/><figcaption><em>BTC\/USD four-hour chart. Source: Cointelegraph\/TradingView<\/em><\/figcaption><\/figure>\n<h2>Bitcoin starts October with range breakout attempt<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView showed that BTC\/USD reached $117,713 following weak US jobs data.<\/p>\n<p>The pair came within $150 of beating its September maximum \u2014 doing so would lead it to its highest levels since Aug. 17.<\/p>\n<p>\u201cBitcoin is trying to breakout from its Monthly Range already on the first day of the new month of October,\u201d popular trader and analyst Rekt Capital summarized in his latest commentary on X.<\/p>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-10\/0199a071-6d57-799a-9609-6553aad92b05\" alt=\"\" \/><figcaption><em>BTC\/USD one-month chart. Source: Rekt Capital\/X<\/em><\/figcaption><\/figure>\n<p>US private-sector employment numbers came in significantly below expectations, turning negative when estimates had projected a gain of 45,000 jobs for September.<\/p>\n<p>Labor market weakness is considered a tailwind for crypto as it heightens the odds of interest-rate cuts and thus increased capital inflows.<\/p>\n<div class=\"m-auto relative\">\n<div>\n<section class=\"etoro-section\">\n<p class=\"etoro-disclaimer\">Crypto investments are risky and highly volatile. Tax may apply. Understand the riskshere<\/p>\n<\/section>\n<\/div>\n<\/div>\n<p>The latest data from CME Group\u2019s FedWatch Tool showed that markets were overwhelmingly betting on the Federal Reserve cutting rates by 0.25% at its October meeting.<\/p>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-10\/0199a071-fa05-7dcf-95f7-222941baa12e\" alt=\"\" \/><figcaption><em>Fed target rate probabilities for October FOMC meeting (screenshot). Source: CME Group<\/em><\/figcaption><\/figure>\n<p>Continuing, fellow trader Jelle described BTC price action as \u201cpushing through the resistance like it isn\u2019t even there.\u201d<\/p>\n<p>\u201cOne last thing to &#8216;worry&#8217; about: a sweep of the September highs. Clear those, and the bears will have very little leg to stand on. Higher,\u201d he told X followers.<\/p>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-10\/0199a072-da44-7f69-819b-e815a7b62ae5\" alt=\"\" \/><figcaption><em>BTC\/USD chart. Source: Jelle\/X<\/em><\/figcaption><\/figure>\n<p>Others focused on potential support retests, with trading account Daan Crypto Trades flagging $112,000 as \u201ckey short-term support.\u201d<\/p>\n<p>\u201cIdeally don\u2019t want to see price re-visit that,\u201d he wrote alongside a chart showing a channel that price was attempting to break through.\u00a0<\/p>\n<blockquote data-ct-non-breakable=\"undefined\"><p>\u201cUp to the bulls to take it from here, a proper breakout &amp; some daily closes above the channel would signal this is ready for a move to new highs to me.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-10\/0199a073-3843-78aa-80e4-80bc40bb38e1\" alt=\"\" \/><figcaption><em>BTC\/USD one-day chart. Source: Daan Crypto Trades\/X<\/em><\/figcaption><\/figure>\n<p>The new US government shutdown, meanwhile, failed to impact the buoyant mood across risk assets.<\/p>\n<p><em><strong>Related: <\/strong><\/em><em><strong>BTC price due for $108K ping pong: 5 things to know in Bitcoin this week<\/strong><\/em><\/p>\n<p>Both the S&amp;P 500 and Nasdaq Composite Index opened modestly higher, while gold consolidated after hitting its latest new all-time highs earlier in the day.<\/p>\n<p>Commenting, trading company QCP Capital stated that the shutdown should be of little importance.<\/p>\n<p>\u201cOn fiscal theatre, a U.S. government shutdown should be a market non-event beyond data delays and headline noise,\u201d it argued in its latest \u201cAsia Color\u201d research post.\u00a0<\/p>\n<blockquote data-ct-non-breakable=\"undefined\"><p>\u201cEssential services continue, back-pay limits income effects, and past episodes have not derailed risk assets.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-10\/0199a074-a84b-71b2-b536-99ab2377391a\" alt=\"\" \/><figcaption><em>BTC\/USD vs. S&amp;P 500 one-day chart. Source: Cointelegraph\/TradingView<\/em><\/figcaption><\/figure>\n<p>QCP noted that during the 2018 shutdown, the S&amp;P 500 ended 10% higher.<\/p>\n<p>\u201cGiven BTC\u2019s elevated beta to equities, we see shutdown-related dips as buy opportunities rather than chasing gap-ups,\u201d it concluded.<\/p>\n<p>*********************************<\/p>\n<p>If one of the paying programs on our Monitor appeals to you, please support <em>EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n<p>EN web <strong>Support Chat<\/strong> | Hyips and Crypto questions \u2013 <strong><a style=\"color: #c03939; text-decoration: underline;\" href=\"http:\/\/emilynews.com\/chat\/hyips\/\">HyipChatEN<\/a><\/strong><\/p>\n<p>Telegram Chat for Crypto and Hyip reports: <strong><a href=\"https:\/\/telegram.me\/HyipChatEN\" target=\"_blank\" rel=\"noopener noreferrer\">@HyipChatEN<\/a><\/strong><\/p>\n<p>*********************************<\/p>\n<p>Be the first to get most important HYIP news everyday!<br \/>\nSimply Follow <a href=\"https:\/\/www.facebook.com\/EmilyNewsOnline\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong style=\"text-decoration: underline;\">EN Facebook<\/strong><\/a>, <a href=\"https:\/\/telegram.me\/CryptoHyipsEN\" target=\"_blank\" rel=\"noopener noreferrer\"><strong style=\"color: #c03939; text-decoration: underline;\">EN Telegram<\/strong><\/a>, <a href=\"https:\/\/twitter.com\/EmilyHyipNews\" target=\"_blank\" rel=\"noopener noreferrer\"><strong style=\"text-decoration: underline; font-size: 1.3em;\">EN Twitter<\/strong><\/a><br \/>\nor Subscribe to <strong><a style=\"color: #c03939; text-decoration: underline;\" href=\"https:\/\/feedburner.google.com\/fb\/a\/mailverify?uri=Emilynews\" target=\"_blank\" rel=\"noopener noreferrer\">EN Feedburner<\/a><\/strong> and submit your email address!<\/p>\n<p>If you like this article and want to support EN \u2013 please share it by using at least few of social media buttons below. Thanks and See you tomorrow!<\/p>\n<p><a href=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2020\/11\/Reminder2-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-13137\" src=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2025\/02\/Reminder2-1.jpg\" alt=\"\" width=\"544\" height=\"600\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin eyes its highest levels in six weeks as weak US jobs data drives crypto and risk assets higher, with shutdown dips now \u201cbuy opportunities.\u201d Key points: Bitcoin is trying to break $118,000 for the &hellip; <a title=\"Bitcoin pushes for $118K as analysis calls US gov\u2019t shutdown \u2018non-event\u2019\" class=\"exalt-read-more\" href=\"https:\/\/emilynews.com\/blog\/?p=53947\"><span class=\"screen-reader-text\">Bitcoin pushes for $118K as analysis calls US gov\u2019t shutdown \u2018non-event\u2019<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":53949,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651,6],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-53947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","category-information","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin pushes for $118K as analysis calls US gov\u2019t shutdown \u2018non-event\u2019 - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=53947\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin pushes for $118K as analysis calls US gov\u2019t shutdown \u2018non-event\u2019 - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Bitcoin eyes its highest levels in six weeks as weak US jobs data drives crypto and risk assets higher, with shutdown dips now \u201cbuy opportunities.\u201d Key points: Bitcoin is trying to break $118,000 for the &hellip; 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