Bitcoin has been trending on social media in recent days as US politicians work toward an end to the disruptive government shutdown within the US, which culminated within the Senate's passage of the highly controversial funding bill on Monday.
It reportedly took about 10 hours Monday for Republicans to get their work done and get the 60 votes (eight got here from Democrats) needed to pass a funding bill that may cover the majority of presidency spending through the tip of January next yr.
“Once passed, the CR goes to the House of Representatives for a vote before we reopen. Hopefully we'll be open by Wednesday,” Republican Sen. Markwayne Mullin noted on X on Monday.
The funding bill will likely be sent to the House of Representatives. Source: C-Span
If the bill passes the House of Representatives, it could then be sent to US President Donald Trump for approval, ending the longest US government shutdown ever.
According to CNN, the federal government shutdown within the US was devastating as greater than one million federal staff went unpaid.
Government agencies that take care of the crypto sector, similar to the Securities and Exchange Commission and the Commodities Futures Trading Commission, now have minimal staffing levels.
Disruptions also occurred in other sectors, particularly air travel, as unpaid air traffic controllers ultimately led to a severe labor shortage that resulted in airports across the U.S. canceling, delaying, and reducing each day flights.
Bitcoin recovers above $106,000
As various reports speculated over the weekend that the federal government shutdown within the US would soon come to an end, the worth of Bitcoin (BTC) also skyrocketed.
After falling as little as $99,300 on Friday, BTC has since risen 6.7% to achieve around $106,000 on the time of writing, in accordance with data from CoinGecko.
According to a Monday post from blockchain analytics platform Santiment, the tag “$BTC” has been the top-trending cryptocurrency on social media in recent days, suggesting that excitement and bullish momentum is picking up again because the shutdown ends.
“$BTC: Trending as a consequence of recent price rise above $106,000, optimism regarding US government shutdown order, and bullish market sentiment,” the post says, adding:
“Analysts are predicting an increase to $150,000 by year-end, underscoring Bitcoin's role as a store of value and symbol of digital trust. Additionally, Bitcoin adoption is increasing with over 4 million Square merchants now able to just accept Bitcoin payments without fees, marking a milestone in mainstream payments integration.”
In addition to BTC, the subsequent 4 hot crypto assets include: Starknet (STRK), Uniswap (UNI), Monero (XMR), and XRP (XRP), all of which have attracted particular attention as a consequence of various technological developments, token price increases, or key partnerships.
