The US government shutdown ends! Bitcoin surges past $106,000, with community discussions reaching new highs.

In recent days, Bitcoin has become a hot topic on social media as U.S. politicians have been working to end the chaos caused by the U.S. government shutdown, which was ultimately passed by the Senate on Monday amid controversy. Bitcoin briefly surged to $106,000 but then retraced slightly.

Senate Passes Funding Bill to End the Longest Government Shutdown in History

(Source: C-SPAN)

According to reports, Republicans spent about 10 hours on November 10th to complete this task, securing the 60 votes needed to pass a funding bill (including 8 votes from Democrats). The bill will cover most government expenses through the end of January next year. “After the bill passes, it will be sent to the House for a vote, and only then can we reopen. Hopefully, we can reopen by Wednesday,” Republican Senator Mark Wayne Mullin said Monday via X.

The funding bill has been submitted for House review. If it passes the House, it will be sent to President Trump for approval, ending the longest government shutdown in U.S. history. According to CNN, the shutdown has caused chaos, with over 1 million federal employees unpaid. Government agencies overseeing cryptocurrency regulation, such as the SEC and CFTC, currently have only a minimal number of staff.

The shutdown’s impact on the crypto industry is multi-layered. First, the staffing shortages at the SEC and CFTC have nearly halted cryptocurrency ETF approvals and regulatory work. Canary Capital’s XRP spot ETF, originally scheduled for approval during the shutdown, has been delayed due to SEC staffing issues. Second, legislative progress has stalled. Congress had planned to pass crypto market structure legislation like the “Clear Act” by year-end, but the shutdown has indefinitely postponed these agendas.

Other industries, especially aviation, have also been affected. Air traffic controllers not receiving pay ultimately led to severe labor shortages, causing cancellations, delays, and reductions in daily flights across the U.S. This widespread economic disruption has increased market uncertainty, serving as a significant backdrop for Bitcoin’s drop to a low of $99,300 on Friday.

Statistics on the Impact of the Government Shutdown

Duration: The longest in U.S. history, over 40 days

Affected Employees: Over 1 million federal workers unpaid

Regulatory Halt: SEC and CFTC operating with very few staff

Industry Impact: Massive flight cancellations and delays in aviation; regulatory and legislative stagnation in crypto

The funding bill covers government expenses through the end of January next year, meaning the shutdown issue is only temporarily resolved. Budget conflicts could re-emerge by then. This short-term funding approach is common in U.S. politics but continues to generate uncertainty, posing potential threats to market confidence.

Bitcoin Rallies from $99,300 to $106,000

(Source: CoinMarketCap)

Over the weekend, various reports speculated that the government shutdown might end soon, causing Bitcoin prices to fluctuate and surge. According to CoinGecko, Bitcoin dropped to a low of $99,300 on Friday but has since risen by 6.7% to approximately $106,000 at press time. This rebound not only recovered losses during the shutdown but also re-established the $100,000 psychological level.

News of the shutdown nearing its end has boosted market confidence. Investors generally believe that government reopening will lead to SEC resuming ETF approvals and CFTC advancing market structure legislation. These regulatory clarities are expected to attract more institutional capital into crypto markets. Additionally, federal employees resuming paychecks will restore consumer spending power, positively impacting the overall economy.

From a technical perspective, $99,300 has become a crucial support level during this correction. This price point is close to the psychological $100,000 mark and is supported by significant historical trading volume in this zone. Bitcoin’s support and strong rebound at this level indicate effective defense by bulls at a key position. After surpassing $106,000, the next technical target is $110,000, the upper boundary of the previous consolidation range.

It’s worth noting that this rebound occurred in a relatively low-volume environment. Although prices increased by 6.7%, trading volume did not significantly expand. This divergence suggests the rally may be driven mainly by short covering and speculative traders rather than large institutional inflows. Confirming the sustainability of this rebound will require volume to pick up alongside price.

According to reports, Jack Dorsey’s Square recently enabled Bitcoin payments for 4 million merchants. This announcement, made as the government shutdown neared its end, provides fundamental support for Bitcoin’s rally. The integration of Bitcoin payments across such a vast merchant network marks a milestone in mainstream adoption, indicating Bitcoin’s transition from an investment asset to a practical payment tool.

Social Media Surge Reflects Market Sentiment Shift

According to blockchain analytics platform Santiment, on Monday, the hashtag “$BTC” was among the most discussed topics on social media, indicating that as the shutdown ends, market enthusiasm and bullish sentiment are resurging. The platform noted: “Bitcoin (BTC) recently surged above $106,000, and the market’s optimism about the resolution of the U.S. government shutdown has driven this trending discussion.”

Social media discussion volume is a leading indicator of market sentiment. When a topic trends heavily on platforms like X, Reddit, and Telegram, it often precedes price movements. The prominence of “$BTC” as a trending topic suggests increased retail participation. In bull markets, heightened retail sentiment often signals an acceleration phase, but it can also indicate a potential top, so it’s important to consider other indicators.

Analysts forecast Bitcoin could reach $150,000 by year-end, emphasizing its role as a store of value and digital trust symbol. This target implies roughly 40% upside from current levels. Historically, Bitcoin’s final phase of a bull run often features accelerated gains, as seen in 2017 and 2021. If the government shutdown is fully resolved and regulatory clarity improves, reaching $150,000 is not entirely out of the question.

Furthermore, Bitcoin’s mainstream adoption continues to grow, with over 4 million Square merchants now able to accept Bitcoin payments fee-free. This expansion in real-world use cases provides fundamental support for long-term value appreciation, moving beyond mere speculation.

Performance of Other Hot Crypto Assets

Besides Bitcoin, four other trending crypto assets include Starknet (STRK), Uniswap (UNI, $8.85), Monero (XMR, $376.67), and XRP ($2.48). These assets have attracted attention due to technological developments, price surges, or strategic partnerships.

Uniswap’s recent popularity stems from its announced tokenomics reforms, including burning 100 million UNI tokens and launching a protocol fee mechanism, causing UNI’s price to surge 38%. Discussions around Monero relate to privacy coin debates amid current regulatory scrutiny. XRP benefits from upcoming spot ETF approvals and Ripple’s strategic acquisitions.

The end of the government shutdown creates a more favorable environment for the entire crypto market. As the SEC and CFTC resume normal operations, pending ETF approvals and regulatory guidance will be released gradually. This increased regulatory clarity is expected to reduce compliance risks for institutional investors and attract more capital inflows.