Crypto Market Turns Green After U.S. Government Shutdown Deal Sparks Relief Rally
The cryptocurrency market is seeing a strong rebound today after U.S. lawmakers reached a breakthrough agreement to end the country’s record 40-day government shutdown, a development that has boosted investor sentiment across global risk assets.
The U.S. Senate voted late Sunday to advance a bipartisan funding bill following days of intense negotiations between Senate Majority Leader John Thune, the White House, and several moderate Democrats. The measure, which now heads to the House of Representatives, provides temporary funding for federal agencies until January 30 and guarantees back pay for the 1.4 million federal employees affected by the shutdown. It also extends critical programs such as veterans’ services, agriculture, and food assistance (SNAP) through next year.
In crypto markets, major coins turned decisively green. Bitcoin (BTC) climbed 4.4% in the past 24 hours, trading at $106,200, after briefly dipping below the $104K mark earlier in the week. Ethereum (ETH) surged 5.9% to above $3,600, showing renewed strength after a volatile start to November. XRP delivered one of the strongest performances among large-cap assets, soaring 8.56% to $2.47 as traders rotated back into high-volume altcoins.
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Other notable gainers included Solana (SOL), up 5.6% to $167, while Chainlink (LINK) added 6.5% to $16.28 and Cardano (ADA) rose 5.5% to $0.587. Zcash (ZEC) led the day’s rally with a remarkable 16.99% gain, continuing its strong seven-day run of over 70%.
Analysts attribute today’s surge to renewed liquidity confidence and the easing of macroeconomic uncertainty. With the shutdown deal signaling temporary political stability, traders are cautiously optimistic that the rebound could extend further, especially if upcoming U.S. CPI and PPI data support a continued “risk-on” narrative heading into mid-November.
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