Bitcoin surged past $106,000 for the first time in nearly a week, leading a broad rally across the crypto market following reports that the U.S. Senate reached an agreement to end the record-long 40-day government shutdown.
The largest cryptocurrency was up over 4%, while Ethereum climbed more than 7% to trade above $3,600. Other major tokens like XRP and Solana also saw gains of about 6%. The prolonged shutdown had previously put downward pressure on the market, causing Bitcoin to dip below $100,000 multiple times. Despite the current jump, BTC remains over 15% below its early October record high of $126,000.
Investor anxiety, fueled by the shutdown and other macroeconomic worries, has led to recent market turbulence. In the eight trading days prior to the news, spot Bitcoin ETFs experienced over $2.1 billion in net outflows, and Ethereum funds lost a total of $579 million. Crypto-related stocks also suffered, with Coinbase and Bitcoin Treasury Strategy seeing drops last week.
In a contrast to the outflows from Bitcoin and Ethereum funds, the new Bitwise Solana Staking ETF (BSOL) saw strong demand in its first full week, racking up over $126 million in net inflows. Since its October 28 debut, the SOL-tracking product has generated more than $545 million in total net inflows, signaling a potentially auspicious start for altcoin funds.
The resolution to reopen the government came after moderate Democrats agreed to procedural votes, effectively putting aside demands for extended health subsidies in the face of the lengthy impasse.
November 2025, Cryptoniteuae