Bitcoin Tops $106K After US Senate Ends 40-Day Shutdown
Bitcoin topped $106,000 after the US Senate voted 60-40 to end a 40-day government shutdown, easing fiscal uncertainty. The cryptocurrency market rallied, with Bitcoin gaining over 4% and Ethereum (ETH) rising 7%. Altcoins XRP and Solana (SOL) jumped around 6% each. Spot Bitcoin ETFs saw more than $2.1 billion in outflows during the shutdown, while Ethereum funds lost $579 million. Crypto stocks, including Coinbase, fell 9% last week. The bipartisan funding bill now moves to the House before the president’s signature. This renewed clarity has energized the broader cryptocurrency market. Traders view the Senate vote as a key catalyst to stabilize markets and potentially reverse ETF outflows, supporting a bullish crypto market outlook.
Bullish
The Senate vote ending the 40-day US government shutdown removed a major macro risk, triggering a swift rally in Bitcoin and wider crypto assets. The lift above $106K and the reversal of bearish sentiment—evident in heavy ETF outflows—suggest renewed investor confidence. Short-term momentum is driven by reduced uncertainty and potential inflows into spot Bitcoin ETFs. Long term, the political clarity lays a foundation for sustained growth and further market stability, underpinning a bullish outlook.