The BTC price is nearing its lowest since June as the US government shutdown hits joint longest

Bitcoin BTC$103,797.94 The price is nearing its lowest since June 24, trading near $103,000. It is now about 20% below the Oct. 6 record of $126,500.

The last time bitcoin traded below $100,000 was in late June, when tensions flared between Iran and the United States.

Meanwhile, the US government shutdown has entered its 35th day, making the 2018-2019 record the longest in history. Prediction market Polymarket indicates that the shutdown is likely to extend beyond November 16, continuing to put pressure on bitcoin.

The US Dollar Index (DXY), a measure of the currency’s strength against a basket of major currencies, recently climbed above 100 for the first time since August 1, a move that typically pressures risk assets like cryptocurrencies and stocks. Tech stocks also weakened, with futures pointing lower and the Invesco QQQ Trust (QQQ) down about 1.5% in premarket trade.