Bitcoin Skyrockets US Shutdown Impact, Experts Remind To Stay Alert

JAKARTA - The price of Bitcoin (BTC) has skyrocketed again amid global economic uncertainty due to the partial shutdown of the United States government.

Based on the analysis of Ajaib, Thursday, October 2, BTC was perched at the level of 119,152 US dollars (Rp1.98 billion). However, as of noon today, Bitcoin managed to penetrate the level of US$120,099 or equivalent to Rp2.00 billion.

According to the Financial Expert Ajaib, Panji Yudha's BTC movement is now a new support level. Technically, Bitcoin is testing its $120,000 resistance. If it fails to break through that level, BTC has the potential to be corrected to the support range of 116,000 US$117,000 (Rp1.92-1.94 billion).

Panji said that the Bitcoin spike this time came after the US federal government officially experienced a partial shutdown due to a budget deadlock in the Senate. President Donald Trump even supported the move by emphasizing the importance of cutting state spending.

This shutdown can delay the release of crucial US non-farm payroll data, causing traders to lose their main base to predict the Fed's next interest rate policy,' he explained.

However, Panji asked investors to remain vigilant, because historically, the impact of shutdown on Bitcoin varied. BTC had increased 14% during the 2013 shutdown, but fell 6% in the 2018-2019 shutdown period.

In addition to US political factors, crypto regulation is now also in the spotlight. In a Senate Financial Committee hearing, lawmakers discussed crypto tax rules, including the possibility of tax exemptions for small transactions and the classification of earnings from staking.

Meanwhile, the flow of institutional funds further strengthens Bitcoin's position as a hedge.

In the short term, Panji predicts, although traditional economies are under pressure, current conditions show the shutdown could benefit Bitcoin over the next 30 days, supported by ongoing corporate demand.