Introduction Crypto markets erased roughly $100 billion in value late Sunday as traders priced in the risk of a partial U.S. government shutdown tied to funding for the Department of Homeland Security. The dispute in Washington intensified after a Minneapolis shooting involving federal agents, prompting Senate Democrats to signal they would block any spending package that included DHS funding unless reforms were enacted. In the meantime, data showed the broader market slipping: the total crypto market capitalization fell from about $2.97 trillion to $2.87 trillion within roughly six and a half hours. Bitcoin (CRYPTO: BTC) slipped 3.4% in the past 24 hours, while Ether (CRYPTO: ETH) declined 5.3%. Amid the selling, more than $360 million in leveraged positions were liquidated, including about $324 million in long contracts, according to market data trackers. The evolving political backdrop underscored how sensitive crypto markets remain to macro headlines and policy risk. Key Takeaways ...