Bitcoin Price Today Hits $105K on U.S. Shutdown Progress
Bitcoin edged higher on Monday, reflecting a broader rebound in risk-driven markets as U.S. lawmakers took steps toward ending the longest government shutdown in history.
By 10:06 ET (15:06 GMT), the world’s largest cryptocurrency had climbed 1.3% to $105,200, continuing a weekend recovery from sharp losses in October and early November.
Bitcoin’s Recent Performance
Bitcoin fell into a bear market last week, dropping over 20% from early-October highs. The decline triggered a broader crypto market sell-off, with Bitcoin struggling to surpass the $110,000 mark since mid-October.
Still, improving market sentiment, particularly after the U.S.-China trade deal in late October, has contributed to Bitcoin’s recent upward momentum.
U.S. Senate Advances Bill to End Government Shutdown
Investor risk appetite was further lifted after the U.S. Senate voted 60-40 to advance a bill funding the government until January 30, 2026. This move came after eight Democratic senators joined a GOP-backed proposal.
The bill will now face a full Senate vote, and its passage could:
- Restore confidence in the U.S. economy
- Resume key government economic data releases
- Alleviate concerns over the shutdown’s estimated tens of billions of dollars economic cost
XRP Surges on Ripple Funding Optimism
Among altcoins, XRP stood out, surging roughly 9% to $2.5220.
The rise followed Ripple Labs securing $500 million in funding at a $40 billion valuation, putting to rest speculation of an imminent IPO. Investors anticipate that Ripple may use some of the funds to buy back XRP, a move considered bullish for token prices.
Crypto Stocks Open Higher
Cryptocurrency-related equities also benefited from improved market sentiment:
- Coinbase Global: +2.3%
- Bitcoin Accumulator Strategy (formerly MicroStrategy): +1%
- Crypto miners Riot Platforms, Hut 8, and CleanSpark: +1.7% to +6%
The optimism was largely driven by expectations that an end to the U.S. shutdown could stabilize economic conditions.
Altcoins Follow Bitcoin Higher
Other major cryptocurrencies posted gains alongside Bitcoin:
- Ethereum (ETH): +0.6% to $3,549.12
- BNB: briefly above $1,000, settled at $987.40
- Cardano (ADA): +2.4%
- Solana (SOL): +3.8%
Among memecoins, Dogecoin increased 1.3%, while $TRUMP token surged nearly 13%.
Conclusion:
Bitcoin and major altcoins are rebounding as markets respond positively to progress on the U.S. government shutdown. XRP continues to outperform thanks to Ripple’s funding efforts, and crypto stocks are enjoying gains alongside the broader market. Traders and investors are watching closely as fiscal and economic developments in the U.S. could drive the next wave of crypto market momentum.
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