A looming U.S. government shutdown has raised alarm bells for economic experts, with the possibility of a negative GDP figure in Q4 being predicted by Kevin Hassett, Director of the White House National Economic Council. This concern comes as the shutdown exceeds 35 days and threatens to disrupt various sectors including construction and local economies. While no direct cryptocurrency impacts have been reported by official sources, market analysts are observing ripple effects and volatility.
Hassett suggests that the shutdown is likely to impact Q4 GDP figures, potentially by half a percent, as government services grind to a halt. He warns of potential declines in economic stability and disruption of federal activities. Economic experts question workforce dynamics amidst delays in funding and development projects, adding to the uncertainty.
Market volatility is evident in Ethereum, with its price experiencing a 3.70% increase over the past 24 hours, despite a 14.73% 30-day decline. The trading volume has also decreased by 21.69%, signaling potential shifts in market dynamics.
While there is no direct regulatory impact from the shutdown, Coincu research suggests that the economic uncertainty could delay policy changes affecting cryptocurrency markets. This underscores the volatile nature of the crypto market and its susceptibility to broader economic trends.