High Confidence in Shutdown Resolution by Nov 15
The US House of Representatives is set to vote on a crucial funding bill aimed at ending the current government shutdown. With 98% odds on Polymarket, the market reflects a strong consensus on a near-term resolution. Key political leaders are actively working towards achieving a legislative agreement.
Polymarket data reveals an overwhelming 98% probability of the shutdown ending between November 12th and 15th, highlighting a potential shift in market dynamics. Institutional investors are closely monitoring US Treasury fluctuations to gauge market volatility implications.
"A continuing resolution is essential to prevent significant disruptions to government services that underpin our economy, national security, and workforce."
Historical Context, Price Data, and Expert Insights
In the 2018–2019 shutdown, Ethereum (ETH) and Bitcoin (BTC) served as risk-off assets, showcasing crypto's potential as a hedge during macro uncertainties.
According to CoinMarketCap, Ethereum (ETH) is currently priced at $3,414.09 with a market cap of $412.07 billion, representing a 12.06% market dominance. Despite recent pressures, Ethereum has shown slight recovery over the past seven days.
Experts suggest that the swift passage of a funding bill could stabilize US Treasury markets and alleviate investor concerns. Short-term impacts might include volatility in crypto-assets, with a possibility of increased stablecoin activity as investors hedge risk in response to governmental actions.