Bitcoin Price Eyes $112k Liquidity Grab As Us Government Shutdown...
The reopening of the US government could fuel Bitcoin price recovery, as exchange order-book liquidity placed $112,000 on top of the list for bulls.
Bitcoin price rebounded as traders expected the US government shutdown to end this week.
Bitcoin market analysis sees a squeeze toward $112,000 after a bullish weekly close.
Bitcoin (BTC) rebounded overnight, rising as much as 5% to trade above $106,000 during the Asian trading session on Monday as bulls targeted sell liquidity. Traders expected that the US government shutdown would end soon, lifting risk sentiment.
Data from Cointelegraph Markets Pro and TradingView showed the BTC/USD pair trading at $106,438 on Bitstamp.
On Sunday, US President Donald Trump announced that most Americans will receive a $2,000 “dividend” from the tariff revenue, sparking a late-weekend rebound.
Related: Bitcoin treasury bear market tipped to end as short seller backs off MSTR
This recovery is expected to continue this week following news that the US Senate has reached a bipartisan deal to end the longest government shutdown in American history, which has lasted 40 days so far.
Following this news, prediction markets flipped sharply, with Polymarket bettors placing the odds of the government shutdown ending between Nov. 12 and Nov. 15 at 85%.
Just 24 hours earlier, traders saw a 63% chance the shutdown would drag beyond Nov. 16 and into Thanksgiving.
Source: CoinTelegraph
