Bitcoin (BTC) has surged to a two-month high as the U.S. government shutdown looms, prompting analyst Chris Burniske to suggest it may be an opportune moment for profit-taking. Burniske, who has been selling at current levels, foresees potential selling pressure by late Q3 2025.
In the stablecoin market, the dominance of USDT and USDC could face challenges. Nic Carter points to potential disruptions from traditional finance intermediaries launching their own stablecoins, increased competition from yield-bearing stablecoins, and the emergence of bank-issued stablecoins. Tether's USDT, with a current supply of $175 billion, is projected by Rumble CEO Chris Pavlovski to reach $1 trillion in circulation soon.
Bitcoin Reaches Two-Month High Amid U.S. Government Shutdown
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.