Bitcoin Price Slips From Record. Why Cryptos Are Looking Strong Amid Government Shutdown.

Bitcoin is the largest cryptocurrency by market capitalization, worth more than $2 trillion. ((Dreamstime))

Bitcoin slipped back from a record high Tuesday as the government shutdown entered its seventh day. But cryptos remained elevated, along with gold, as investors flocked to perceived haven assets.

Bitcoin edged up 0.2% over the past 24 hours to $124,234, according to CoinDesk data. However, the world’s largest cryptocurrency has fallen back from its record high of $126,064 which it hit briefly on Monday afternoon, according to CoinDesk numbers.

Bitcoin is still up about 9% over the past seven days and has more than recovered from a slump late last month. The coin is up about 30% since the start of the year.

Gold , meanwhile, has also hit new highs. Prices are up some 50% in 2025 and futures briefly topped $4,000 overnight. Gold futures were up 0.1% to $3,980 early Tuesday.

Among smaller cryptocurrencies, Ether rose 2.7% and XRP fell 0.5%. Solana dropped 0.7%.

Markets are so far unfazed by the U.S. government shutdown, even as the Senate on Monday failed to pass a Republican bill that would extend government funding and reopen operations by a vote of 52-42. Republicans need 60 votes to pass the bill.

Futures tracking the benchmark index slipped less than 0.1% Tuesday morning, with gains currently at 1.2% over the past five trading sessions.

“We’re still seeing little concern in the stock market that there will be any long-term damage [from the federal government shutdown],” noted market strategist Louis Navellier on Monday afternoon.

Write to Elsa Ohlen at elsa.ohlen@barrons.com