Bitcoin Surges Past $105K as U.S. Shutdown Nears Resolution

Bitcoin is slowly rising back as market optimism is growing, as the U.S. government is expected to resume operations after the longest shutdown in history. The premier cryptocurrency’s price surged past $105K after the market reacted positively to the news of the Senate passing the long-awaited funding bill.

Senate Republicans took nearly 10 hours of deliberation and finally secured the required 60 votes with the support of eight Senate Democrats. They finally passed a continuing resolution that would fund most of the government operations through January of next year. Senator Markwayne Mullin posted on X, “After passage, the CR goes to the House for a vote before we reopen. Hopefully, we’re open by Wednesday.”

If the new bill is approved by the House, it will be signed by President Donald Trump, and the bill will finally end weeks of disruption. According to CNN, this shutdown left more than a million federal workers unpaid. Key governmental agencies such as the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have been operating with minimum staff, which has impacted the oversight of the crypto sector.

As speculation over the shutdown’s resolution grew over the weekend, the price of Bitcoin rebounded sharply from Friday’s low of $99K with an increase of 6.7% and renewed investor confidence. According to the data from CoinGecko, the price of Bitcoin reached $106K at press time before settling at $105K.

Blockchain analytics platform Santiment noted that “$BTC” remained the top-trending topic in the crypto market. Santiment pointed to the growing adoption among over 4 million Square merchants now accepting bitcoin payments with zero fees. Platform released a statement in which they revealed, “Analysts predict a rise to $150K by year-end, highlighting Bitcoin's role as a store of value and symbol of digital trust.”

Other trending cryptocurrencies alongside Bitcoin include Starknet (STRK), Uniswap, Monero, and XRP.