Bitcoin Rises as U.S. Government Shutdown Hopes Lift Risk Appetite

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Bitcoin was rising as risk sentiment recovers on optimism that the U.S. could avoid a government shutdown.

Senate Minority Leader Chuck Schumer said he would support a Republican funding bill set for Friday afternoon, removing the threat of a government shutdown. It marks a reversal in his stance after he vowed that he and other Democrats would block the bill.

Hopes that a U.S. government shutdown will be averted is boosting risk appetite, helping U.S. stock futures to rise, Tickmill Group’s Patrick Munnelly said in a note.