#美国政府停摆风险 Looking back at the history of crypto assets over the past few decades, I have witnessed countless market fluctuations and policy risks. The current risk of a U.S. government shutdown reminds me of similar situations in 2013 and 2018. Back then, Bitcoin was still a novelty, and each government shutdown would trigger a wave of speculation.

The situation now seems different. Gold is reaching new highs, and institutional investors are increasing their allocation to gold above the traditional 5% benchmark. This rise in risk aversion is a direct response to the uncertainty of the current situation.

The Senate's bipartisan debate over the temporary funding plan continues, while the Bureau of Labor Statistics has announced a suspension of all operations during the shutdown. This means that key economic data such as the non-farm payroll report may not be released as scheduled, further exacerbating market uncertainty.

History tells us that government shutdowns often drive up the prices of safe-haven assets. However, this time, the Crypto Assets market may react differently. Compared to past pure speculation, the current market is more mature and more sensitive to macroeconomic factors.

I believe that this risk event could become an important moment to test the status of Crypto Assets as "digital gold." If Bitcoin can demonstrate safe-haven properties similar to gold during this turmoil, it will significantly enhance its position in the traditional financial world.

Regardless, this turmoil reminds us once again that policy risks are always an integral part of the Crypto Assets market that cannot be overlooked. Investors need to closely monitor developments and manage risks effectively. After all, in this ever-changing market, the only constant is change itself.