The U.S. government shutdown sees a glimmer of hope, Bitcoin stands at 106K, XRP pumps 7%.

The U.S. Senate took a key step towards a potential agreement to end the historic government shutdown, bringing hope to the economic outlook. Tech stocks surged on Monday, with (11/10) leading the gains, and all four major indices closed in the green. Bitcoin (BTC) rebounded to 106K, while Ether (ETH) remained steady above 3,500. XRP surged over 7% in 24 hours, leading large cap alts.

Hope for the U.S. Government Shutdown

Investors continue to focus on the negotiations among legislators to pass a federal funding bill that would end the government shutdown. On Sunday evening, the Senate approved a procedural measure by a vote of 60 to 40, advancing a temporary funding bill that would reopen the government until January of next year and reverse some of the recent large-scale layoffs in the federal government. The agreement also includes future protections for government employees; however, it does not include an extension of the subsidies under the Affordable Care Act, which is a major point of contention for most Democrats. The agreement calls for a vote on the subsidy issue in December.

The Senate needs to conduct a final vote on the appropriations bill, after which the House of Representatives must also pass the bill. House Speaker and Louisiana Republican Mike Johnson has urged House members to head to the capital, Washington, as soon as possible to vote on the agreement, which he expects to take place within this week.

President Trump expressed support for a bipartisan agreement to end the U.S. government shutdown, a key development that makes it likely the government will restart within days.

In light of the end of the government shutdown bringing economic data and clarifying the monetary policy outlook, the market views this Senate move as a breakthrough, with Wall Street traders flocking to higher-risk market segments, causing both stock and Bitcoin prices to rise.

Bitcoin rebounded to 106K, XRP rose over 7%

As Bitcoin's dominance slightly declines, XRP has surged over 7% in the last 24 hours, leading large cap alts. The U.S. Securities Clearing Corporation (DTCC) has listed five XRP spot exchange-traded funds (ETFs), which may indicate that these products are about to launch.

The overall cryptocurrency market capitalization increased by 0.83% to $3.57 trillion, Bitcoin rebounded to 106K, while Ether remained above 3,500. The Fear and Greed Index slightly rose to 29, but is still in the fear zone, and the altcoin season index also slightly increased to 30.

As the U.S. government shutdown may end this week, market sentiment has slightly improved. Renowned trader Pickle Cat believes that from a macro and on-chain data perspective, Bitcoin is not bearish at all, and that 106,000 is a critical price level for Bitcoin. She is optimistic that there will be a big market movement before Christmas, and the probability of a pullback is very low.

(Renowned trader: Bitcoin is ready to welcome the Christmas market, $106,000 is the key price point)

This article discusses the glimmer of hope as the U.S. government shutdown ends, Bitcoin reaches 106K, and XRP pumps 7%, originally appearing in Chain News ABMedia.