Bitcoin’s price is hovering close to its lowest level since June 24, currently trading around $103,000—roughly 20% below the all-time high of $126,500 it reached on October 6.
The cryptocurrency hasn’t dipped below the $100,000 mark since late June, a period marked by heightened tensions between the U.S. and Iran.
Adding to market uncertainty, the ongoing U.S. government shutdown has now stretched into its 35th day, matching the longest shutdown in history (2018–2019). According to prediction platform Polymarket, the deadlock is expected to extend past November 16, exerting further pressure on bitcoin’s price.
At the same time, the U.S. Dollar Index (DXY)—which tracks the dollar’s performance against major global currencies—recently surged past 100, its highest level since August 1. This stronger dollar is typically a headwind for riskier assets, including cryptocurrencies and stocks. U.S. tech stocks are also under strain, with futures down and the Invesco QQQ Trust (QQQ) showing a 1.5% drop in pre-market trading.
