Cryptocurrency surge, market expects US government shutdown to end soon.

Bitcoin, Ethereum, and other major cryptocurrencies have surged significantly due to renewed optimism in the global market, thanks to news that the U.S. government shutdown may soon come to an end. Peter Chung, research director at Presto Research, says that this political breakthrough helps alleviate recent market pressures. Chung stated, "The prolonged government shutdown has led to a liquidity drain in overnight funding markets, sparking market jitters in the past few weeks. The removal of this negative factor paves the way for risk assets to be priced in a favorable macro environment, including looser monetary policies, the resolution of trade disputes, and potential fiscal stimulus measures before next year's midterm elections." Jeff Mei, Chief Operating Officer of BTSE, also mentioned that the reopening of the government holds significance beyond just immediate market sentiment. Mei said, "More importantly, economic data sets will be available again, providing more indicators for the Federal Reserve to consider when adjusting policies. With no data during the government shutdown, the Fed may have been just waiting and watching. Now we may see more actions to stimulate the economy."