#美国政府停摆风险 Looking back at history, whenever the US government shuts down, the market always experiences a certain level of fluctuation. This time is no exception. The overlap of the China Golden Week holiday and the US government shutdown may trigger liquidity shortages and abnormal price fluctuations. Based on past experience, early October is usually a relatively calm period for the crypto market, but this year's situation may be different.

We must remain vigilant, as the risk of high leverage trading significantly increases when market liquidity declines. Historical lessons tell us that during such times, a small triggering factor can lead to a chain reaction, causing severe price fluctuations.

Although Bitcoin is currently still in a fluctuation pattern, we cannot let our guard down. CME open interest has fallen to a five-month low, and the funding rate is hovering below neutral, indicating a cautious market sentiment. However, it is precisely beneath this seemingly calm surface that significant risks often lie hidden.

Reflecting on the government shutdowns in 2013 and 2018, although the scale of the crypto market was small at that time and the impact was limited, the situation is very different now. The connection between the crypto market and traditional finance is increasingly close, and the delay in the release of economic data caused by government shutdowns may trigger a broader market reaction.

At this critical moment, I advise investors to remain highly vigilant and closely monitor market trends. At the same time, it's essential to reassess your investment strategies to ensure you can respond calmly to potential severe fluctuations. After all, in the world of encryption, opportunities and risks often go hand in hand; only by being well-prepared can one stand firm amidst the tumultuous waves of the market.