US Shutdown Risk Increases... Trump Says 'If We're Going to Do It, Let's Do It Now'

Due to the differences in stance between President-elect Donald Trump and Congress regarding the budget and debt ceiling, the federal government is facing a shutdown risk, darkening the investment sentiment in the securities and cryptocurrency markets.

On the 20th, the new Republican budget, reflecting the demands of President-elect Donald Trump, was rejected in the House of Representatives. The new budget included a temporary budget for three months, a two-year suspension of the debt ceiling, and a $100 billion disaster relief budget.

However, as some Democrats and Republicans opposed the debt ceiling-related provisions included in the temporary budget, the risk of a federal government shutdown is increasing.

President-elect Trump is also showing a firm stance. According to Walter Bloomberg, Trump stated, "If we're going to have a federal government shutdown, let's do it now," clearly indicating his unwillingness to back down. The vote on the temporary budget for the debt ceiling negotiations is scheduled to take place at 10 AM (local time), about two hours from now.

The cryptocurrency market, including Bitcoin (BTC), has been unable to escape the downward trend due to hawkish remarks on monetary policy by Jerome Powell, the Federal Reserve Chairman, last Thursday, and the shutdown risk caused by the budget rejection.

Currently, Bitcoin is trading at $94,170, down 7.86% from the previous day, based on the Binance Tether (USDT) market.