BTC Price Approaches Lowest Since June, as U.S. Government Shutdown Hits Joint Longest

The bitcoin BTC$103,809.90 the price is approaching its lowest since June 24, trading near $103,000. It is now about 20% below its Oct. 6 record of $126,500.

The last time bitcoin traded below $100,000 was in at the end of Junewhen tensions between Iran and the United States rose.

Meanwhile, the US government shutdown has entered its 35th daytying the 2018-2019 record for longest in history. Forecast market Polymarket indicates that the shutdown is likely to extend beyond November 16, continuing to put pressure on bitcoin.

The US Dollar Index (DXY), a measure of the currency’s strength against a basket of major currencies, recently climbed above 100 for the first time since August 1, a move that typically pressures risk assets like cryptocurrencies and stocks. Technology stocks also weakened, with futures pointing lower and the Invesco QQQ Trust ( QQQ ) about 1.5% in pre-market trading.