In a high-stakes showdown that has rattled both Washington and Wall Street, the U.S. House of Representatives has rejected a government shutdown plan backed by President Donald Trump. This unexpected move leaves the path forward murky, amplifying concerns of potential economic fallout and political chaos.

💥 What Happened?

The Trump-endorsed proposal aimed to stave off a looming government shutdown by implementing deep federal spending cuts in exchange for a temporary reprieve. However, the plan failed to secure enough votes, with resistance not only from Democrats but also from moderate Republicans. Critics argued the proposal would jeopardize essential government services and the livelihoods of federal workers.

🌍 Global Implications

This political turbulence isn’t just a U.S. issue—it’s sending ripples through global markets:

Stocks Wobble: Market volatility has intensified, with major indices reflecting uncertainty.

Crypto Resilience? Bitcoin and Ethereum prices remain steady, as investors eye digital assets as a hedge against fiscal instability.

USD Under Pressure: The dollar shows signs of weakening amid political gridlock.

⏳ What’s Next?

With the deadline to avoid a shutdown fast approaching, Congress faces immense pressure to find a bipartisan solution. Key sticking points include:

Immigration Reform

Federal Spending Levels

Long-Term Fiscal Policies

If no deal is reached, the U.S. could face a government shutdown, potentially disrupting services and rattling investor confidence globally.

💡 Market Insight for Binance Traders

Crypto Hedge Play: Uncertainty in traditional markets often drives interest in Bitcoin and other cryptocurrencies. Watch BTC/USDT closely for potential bullish momentum.

Stablecoins on the Rise: Expect heightened demand for USDT and other stablecoins as traders seek safe havens during volatility.

Altcoins Spotlight: Fiscal uncertainty could shift attention to inflation-resistant altcoins like BNB and ETH.

🔥 Pro Tips for Traders

1. Stay Alert: Track the news—political developments can spark rapid price movements.

2. Diversify: Consider holding both stablecoins and cryptos to manage risk and seize opportunities.

3. Watch Volume: Increased market activity often hints at upcoming breakouts in crypto.

The clock is ticking, and the stakes couldn’t be higher. Will Congress strike a deal in time? Stay tuned to Binance for real-time market updates and trade opportunities during this pivotal moment in U.S. politics.

#BinanceNews #BTCUSDT #CryptoMarkets #BreakingNews

Analysts predict a potential bounce between $56,000 and $60,000 as Bitcoin tests key support levels,
Bitcoin (BTC) briefly lost its 200-day exponential moving average (200 EMA) this Thursday, which was considered very important support for BTC by traders. Despite this brief miss from fundamental price levels, the analyst who identifies himself as Altcoin Sherpa told his followers to “don't panic” as it is “quite common for the 200 EMA” to go astray for a bit.”

Amidst the surging momentum of Bitcoin, local cryptocurrency exchanges are witnessing a notable surge in returns.Upbit, South Korea’s largest cryptocurrency exchange, recorded a transaction volume exceeding 12 trillion won ($8.9 billion) in the last 24 hours, marking the first instance since 2021 that the figure surpassed 10 trillion won. As of Friday, the 24-hour transaction volume reached 9.96 trillion won, comparable to the average daily transaction volume of Kospi, the country’s primary benchmark index, which hovers around 10 trillion won.Taking into account Upbit’s 0.05 percent commission, the exchange is estimated to have generated over 6 billion won in revenue within the past day. The overwhelming demand prompted a server slowdown at K Bank, Upbit’s partnering lender responsible for providing real-name accounts for cryptocurrency transactions. To acquire bitcoin on Upbit, users are required to deposit funds at K Bank and subsequently transfer the amount to the exchange.Meanwhile, Bithumb, another major cryptocurrency exchange in South Korea, reported transactions totaling 3.41 trillion won in the last 24 hours. With a 0.04 percent transaction commission, Bithumb accrued approximately 1.4 billion won in a single day.According to CoinMarketCap, a crypto intelligence platform, Upbit commands roughly 70 percent of the local market share, with Bithumb following at 25 percent, solidifying their positions as the top two players in the South Korean market.Although the price of bitcoin in South Korea reached a record high of 90 million won on Thursday, it experienced a slight dip the following day, trading at 86.61 million won on Upbit and 86.39 million won on Bithumb.The influx of spot bitcoin exchange-traded funds (ETFs) contributing to the notable surge in bitcoin prices has fueled expectations for the introduction of spot ETF products linked to ethereum. Over 10 financial services, including BlackRock and Fidelity Investments, have submitted ethereum ETF applications to the US Securities and Exchange Commission (SEC), with the SEC expected to announce its stance on May 23.Despite South Korea’s keen interest in cryptocurrencies, spot bitcoin ETFs remain inaccessible to Korean investors due to regulatory restrictions. In January, local authorities declared that trading related products for local securities firms could potentially be deemed illegal, shortly after the US SEC authorized the financial product.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.#TrendingTopic #breakingnews