Bitcoin Edges Higher on U.S. Government Reopening Hopes — Market Talk
Bitcoin edges higher on cautious optimism that the U.S. government shutdown is nearing the end. Congress moved closer to ending the shutdown after Senate approved a spending bill that will fund the government until the end of January. However, uncertainty remains heightened as official data continues to be halted during the shutdown. In the absence of official data, investors are digesting weak private sector jobs figures from the ADP Tuesday that boosted expectations for further interest-rate cuts by the Federal Reserve. The data showed the U.S. shed an average of 11,250 private sector jobs a week in the four weeks ended October 25. Bitcoin rises 0.7% to $103,357 after reaching a one-week high of $107,454 Tuesday, according to LSEG. ([email protected])