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According to ChainCatcher, CryptoQuant analysis shows that the U.S. government shutdown had a significant impact on the growth rate of the cryptocurrency market. From October 1 to November 10, the market growth rate slowed sharply, with the total market capitalization losing a growth potential of $408 billion. Market capitalization growth rate (MA Gap Ratio) data shows that bitcoin's growth rate dropped from 16.75% on October 1 to 6.60% on November 10; the growth rate of the top 20 assets (excluding BTC) fell from 32.29% to 14.67%; small and mid-cap assets saw the steepest decline, with the growth rate plummeting from 18.57% to only 0.21%. The government shutdown triggered significant macroeconomic uncertainty and delayed regulatory progress such as ETF approvals. Due to the lack of official economic data on inflation and employment, the Federal Reserve faced greater difficulties in formulating monetary policy, increasing investor caution. Although bitcoin and ethereum maintained historical resilience, the unstable political environment and interruptions in financial regulatory services heightened risk perception.

ChainCatcher News, QCP released a briefing analysis stating that the U.S. Senate has approved a temporary funding bill, extending government funding until January 30, thus alleviating the immediate shutdown crisis. The bill now needs to be passed by the House of Representatives and signed by the President. The market has reacted cautiously to this "kick the can down the road" solution, with bitcoin stabilizing around $103,000 in the Asian market after declining during U.S. trading hours. Meanwhile, weak ADP employment data has reignited concerns about a "weakening labor market," and the NFIB Small Business Index shows a decline in business sales expectations. Analysts expect that despite potential volatility in the fourth quarter, possible Federal Reserve rate cuts and corporate earnings performance should support risk assets and bitcoin's performance through the end of the year.