Bitcoin Surges as US Government Shutdown Nears Resolution
Bitcoin has been trending on social media over the past few days amid US politicians’ efforts to end the disruptive government shutdown. The situation reached a turning point on Monday when the Senate passed a highly contested funding bill.
It reportedly took around 10 hours for Republicans to secure the necessary 60 votes—including eight from Democrats—to pass a funding bill that covers most government expenses through the end of January next year. Following Senate approval, the continuing resolution (CR) is set to go to the House for a vote. If passed there, it will then be sent to President Donald Trump for final approval, effectively ending the longest US government shutdown on record.
The Impact of the Shutdown
The shutdown has caused significant disruption, leaving over 1 million federal employees unpaid, according to CNN. Key government agencies involved with the cryptocurrency sector, such as the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC), have been operating with minimal staff.
Other sectors have also felt the impact. Particularly affected is air travel, where unpaid air traffic controllers have led to a severe labor shortage. This has forced airports across the country to cancel, delay, or scale back daily flights, adding to the public inconvenience.
Bitcoin Recovers Past $106,000
As speculation mounted over the weekend that the government shutdown was nearing an end, Bitcoin’s price responded accordingly. After falling as low as $99,300 on Friday, BTC surged by 6.7% to around $106,000 at the time of writing, according to CoinGecko data.
According to blockchain analytics platform Santiment, the tag “TC” has been the top-trending cryptocurrency topic on social media in recent days. This suggests renewed enthusiasm and bullish momentum as the shutdown appears closer to resolution.
Santiment explained: “TC is trending due to its recent price surge past $106K, optimism around the US government shutdown resolution, and bullish market sentiment.” The platform went on to highlight analyst predictions of Bitcoin reaching $150K by year-end, underlining its role as a store of value and a symbol of digital trust.
Bitcoin Adoption Milestones
In parallel with this price momentum, Bitcoin adoption continues to expand. Notably, over 4 million Square merchants can now accept Bitcoin payments with zero fees—a significant milestone in mainstream payment integration.
Other Trending Cryptocurrencies
Alongside Bitcoin, several other crypto assets have attracted increased attention due to technological developments, price surges, or key partnerships. These include:
– Starknet (STRK)
– Uniswap (UNI)
– Monero (XMR)
– XRP (XRP)
These projects continue to propel innovation and engagement within the crypto space, contributing to the broader excitement seen throughout the markets.
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Stay tuned for more updates as the funding bill progresses through the House and the government shutdown draws to a close.
https://cointelegraph.com/news/bitcoin-chatter-surges-as-price-recovers-us-govt-shutdown-nears-end
