Bitcoin Declines as Shutdown Risks Pressure Market Sentiment
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Bitcoin Declines as Shutdown Risks Pressure Market Sentiment

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Azeez Mustapha

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Bitcoin is facing downward momentum as fears of a U.S. government shutdown unsettle investor sentiment. The ongoing political standoff has increased volatility across financial markets and left cryptocurrencies vulnerable to renewed selling pressure. Traders remain cautious as the possibility of delayed regulatory action creates further uncertainty for digital assets.

Recent movements in Bitcoin have shown steep pullbacks followed by short-lived rebounds. These swings reflect the sensitivity of the market to wider economic and political risks. If the shutdown continues, confidence in risk assets may weaken further and keep Bitcoin under pressure. The current environment supports a bearish outlook as the leading cryptocurrency struggles to maintain stability in the face of fragile sentiment and political uncertainty.

Key Bitcoin Levels To Watch – September 28

Bitcoin Declines as Shutdown Risks Pressure Market Sentiment

BTCUSD is showing weakness as price trades below the recent order block at $118,000, confirming selling pressure. The pair is struggling to hold above the $111,760 support, with the MACD (Moving Average Convergence Divergence) signaling bearish momentum.

A decisive break beneath $108,390 would likely accelerate the downside move. If bearish sentiment persists, the next major target lies near $95,980.

Bitcoin Key Levels

Resistance Levels: $118,000, $124,530, $130,000
Support Levels: $108,390, $95,980, $85,010

BTC Metrics

Total Market Capitalisation: $3.85T
BTCUSD Market Capitalisation: $2.22T
Bitcoin Volume: $40.25B
Market Rank: #1

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