In brief
- Bitcoin rose above $117,000 and gold hit a new all-time high Wednesday, with both assets benefiting from safe-haven demand.
- Stocks fell after the U.S. entered its first government shutdown in nearly seven years, with the S&P 500 and Nasdaq each down about 0.5% upon open.
- The shutdown’s duration remains uncertain, echoing the record 35-day standoff in late 2018 that rattled markets significantly.
Popular stores of value like Bitcoin and gold jumped Wednesday, diverging from a spooked stock market that contracted in the wake of the U.S. government’s first shutdown in nearly seven years.
Bitcoin is up 3.6% in the last 24 hours, to $117,293 at writing, reaching its highest price in about two weeks. The token has spiked over 7% since Sunday.
Gold, meanwhile, soared to a new all-time high Wednesday morning above $3,922 per ounce, according to Yahoo Finance. It has remained closed to the mark, recently priced at $3,902 per ounce—up 4.6% in the last week.
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Author: Sander Lutz
