OpenAI drives US stocks to new highs, Bitcoin makes a strong return to 120K, BNB hits new highs again.

OpenAI's latest transaction has pushed the company's valuation to $500 billion, supporting the rise of chip stocks and driving U.S. stocks to new highs. The crypto market rose by 2.56%, with Bitcoin (BTC) briefly reaching 121K this morning, and Ether (ETH) hitting $4,516, with a 24-hour increase of 3.54%. BNB set a new historical high this morning, reaching $1,099, and has risen over 55% year-to-date. The crypto market has shown strong momentum following the U.S. government shutdown.

(OpenAI's valuation skyrockets to $500 billion, renowned investor James Anderson worries about the AI bubble)

Traders bet that the U.S. government may shut down for two weeks.

The U.S. government officially shut down on Wednesday, and Treasury Secretary Becerra stated on CNBC on Thursday that the current government shutdown could impact the Gross Domestic Product (GDP).

Investors hope that the interruption of federal government funding will be short, thereby limiting the severe impact on the economy, which has driven the three major U.S. stock indices to new highs. However, the longer the government shutdown lasts, the greater the impact on the performance of the U.S. economy.

Due to the Senate's recess on Thursday for Yom Kippur, it is expected that Friday will be an opportunity for senators to vote again. In the prediction market, traders are betting that the government shutdown could last nearly two weeks.

Bitcoin makes a strong comeback at 120K, BNB hits a new high

The crypto market has risen by 2.56% in the last 24 hours, with Bitcoin reaching as high as 121K this morning, showing a strong trend after the U.S. government shutdown. According to the temporary guidance issued by the U.S. Treasury and the IRS, MicroStrategy (Strategy) is expected not to pay billions of dollars in corporate alternative minimum tax (CAMT) due to unrealized gains from its Bitcoin holdings, and MSTR's stock price has surged for several consecutive days, closing at $352.33 yesterday.

( MicroStrategy avoids paying billions in CAMT taxes, MSTR surges over 5% )

Ether once reached 4,516 USD, with a 24-hour pump of 3.54%, driving Ethereum reserve companies BitMine (BMNR) and SharpLink (SBET) to surge 7.9% and 4.2% yesterday.

BNB has set a new historical high this morning, reaching $1,099, with an increase of over 55% year-to-date.

The SOL spot ETF with staking features is expected to be launched soon, and SOL has also risen by over 6%, reported at 234 USD before the deadline.

This article discusses how OpenAI drives the US stock market to new highs, with Bitcoin making a strong return to 120K, and BNB reaching new highs, first appearing in Chain News ABMedia.