The US Congress passed a stopgap funding measure on October 1, preventing a government shutdown. The Republican Party, which holds a majority in the US House of Representatives, was divided on the issue. After weeks of infighting, Speaker Kevin McCarthy announced the stopgap proposal and the bill passed the House with a bipartisan vote. The bill will keep the government open until November 17.
The US dollar index rose 0.8% after McCarthy’s announcement, while the S&P 500 index slid 1% lower. Bitcoin rose 10% in the previous seven days, breaching the $28,000 ceiling for the first time in six weeks. On-chain metrics hint at a bullish continuation in October, potentially bringing the alpha crypto to $30,000 by year’s end.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 🇺🇦 |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Kevin McCarthy, Donald Trump, Nancy Pelosi |
| Companies | US dollar index, US Senate, US House of Representatives, Republican Party, US Congress |
| Currencies | Ethereum, Bitcoin, US Dollar |
| Securities | None |
