First, the conclusion: the record-breaking government shutdown in the United States has finally come to an end. Former President Trump signed a temporary funding bill, and the political deadlock has been temporarily resolved.

But the market's reaction is interesting - Bitcoin dropped 0.58% that day. The decline is not large, but the direction is intriguing.

Why is this happening? I think there are three points worth pondering.

**The relationship between political stability and capital flow**

Political events of this level do not only affect the United States. The risk appetite in global markets will also fluctuate accordingly. The end of a shutdown usually means a return of certainty, and funds will seek new avenues—pulling out from "uncertainty hedging tools" like gold and Bitcoin, and turning towards stocks or sectors that directly benefit from policy stability. This is a conventional operation.

**What kind of asset is Bitcoin?**

This small drop has exposed an awkward reality: BTC's identity has not yet fully taken shape. Some view it as a safe-haven asset, while others see it as a risk asset. When political risks recede and market sentiment warms, some funds have clearly categorized it into the latter—being sold off in the short term along with tech stocks and high-risk assets.

Another possibility is the "expected realization" logic. During the standstill, uncertainty has been priced in ahead of time. The moment it actually lands, it becomes a signal for profit-taking. What is bought is worry, and what is sold is the boot dropping.

**The market is always a game of cognitive differences**

Events like these remind us: the crypto market is no longer an isolated small circle. Macroeconomic politics, monetary policy, and geopolitical risks are reshaping the flow of funds and the temperature of sentiment. Bitcoin's price fluctuations increasingly reflect the projection of traditional financial logic in the digital asset space.

So next time you see similar news, don't just focus on the price of the coin itself. Think more about what the underlying funds are thinking and what the market is pricing.