Bitcoin is dealing with some serious uncertainty right now because the US government shutdown messed up the release of crucial October inflation and jobs data. Even though the shutdown ended, Bitcoin still fell about 1% to around $103,100, as investors are basically flying blind without these important economic numbers.
The problem is the Federal Reserve needs this data to make decisions about interest rates, and without it, everyone’s just guessing what’s going to happen next. Bitcoin actually dropped 10% over the past week, which shows how nervous people are getting about the whole situation.
White House press secretary Karoline Leavitt said the shutdown permanently damaged the federal statistical system, leaving policymakers without critical information at a really bad time. The shutdown happened because of fights over tax credits for health coverage, but now the economic damage is sticking around even after things reopened.
Adam Chu from GreeksLive pointed out that this data blackout gives agencies more room to maneuver but also creates way more uncertainty for traders. Prediction markets are showing less confidence now with Bitcoin’s chances of hitting $115,000 before dropping to $85,000, falling from 61% to about 59%.
The odds of a December rate cut also dropped to 50%, which means the Fed might not ease up on rates as quickly as people hoped.
Conclusion
Bitcoin’s slump highlights investor anxiety as missing U.S. economic data leaves markets guessing on rate decisions, cutting confidence in both price recovery and potential Fed rate cuts ahead.
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