Bitcoin Surges Past $106,000 as U.S. Shutdown Nears Resolution

Bitcoin has once again taken center stage on social media as political developments in the United States bring hope for an end to the prolonged government shutdown. The Senate on Monday passed a much-debated funding bill aimed at restoring government operations, sparking optimism across both financial and crypto markets.

The measure reportedly took nearly 10 hours of deliberation, with Republicans securing the 60 votes required to push the bill through, eight of which came from Democrats. The bill would fund most government operations until the end of January next year. 

“After passage, the CR goes to the House for a vote before we reopen. Hopefully, we’re open by Wednesday,” Senator Markwayne Mullin said on X.

If approved by the House of Representatives and signed by President Donald Trump, it would officially end the longest government shutdown in U.S. history. The closure has left over one million federal employees unpaid, according to CNN, and has hampered the functioning of major regulatory bodies such as the SEC and the CFTC both crucial to the crypto industry.

Shutdown Fallout and Market Impact

The shutdown’s effects have extended beyond government offices. The aviation sector has been hit especially hard, with unpaid air traffic controllers contributing to widespread flight delays and cancellations across U.S. airports. Economists have warned that prolonged government stagnation could weaken short-term market confidence.

Yet, despite the economic uncertainty, Bitcoin has shown remarkable resilience, underscoring its reputation as a hedge during times of political and financial instability. Over the weekend, as speculation grew that the shutdown was nearing its end, Bitcoin’s price rebounded strongly.

Bitcoin Momentum Builds as Confidence Returns

After dipping to around $99,300 on Friday, Bitcoin surged 6.7% to trade at around $105,000 at the time of writing, according to CoinMarketCap data. Blockchain analytics firm Santiment reported that the hashtag “$BTC” has been the top-trending crypto tag on social media, driven by renewed optimism and bullish momentum.

“Bitcoin’s recent price surge past $106K, coupled with optimism around the U.S. shutdown resolution, has reignited market enthusiasm,” Santiment noted. The firm added that analysts foresee the potential for Bitcoin to reach $150,000 by year’s end, emphasizing its status as a store of value and digital trust asset.

Adding to this positive sentiment, Bitcoin adoption continues to rise. Alongside Bitcoin, other top altcoins have also gained traction amid a wave of renewed market confidence.