Bitcoin slips toward $101K as US stocks rally ahead of shutdown vote
US stocks rallied Wednesday as investors positioned for a crucial House vote on legislation to end the government shutdown, while Bitcoin gave back recent gains. The leading cryptocurrency dropped from an intraday high near $105,300 to around $101,200, roughly a 3.9% move, retreating from the week’s peak as sentiment rotated toward traditional risk assets.
The shift matters because a deal to reopen the government could reinforce risk-on flows into equities and short-term dollar strength, weighing on crypto liquidity and speculative positions. Traders will be watching whether BTC holds the $100K area and if the correlation with US markets persists through the vote and any ensuing headlines. Short-term volatility is likely until lawmakers provide clarity on the shutdown outcome.