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Bitcoin surged above $106,000 following reports that the US Senate had reached an agreement to end the 40-day government shutdown—the longest in US history. According to data provider CoinGecko, the largest cryptocurrency by market value recently increased by more than 4%.

 

With Ethereum, the second-largest cryptocurrency by market cap, trading above $3,600—a gain of over 7%—and XRP and Solana, the fourth and sixth-largest coins, both rising roughly 6%, other significant digital assets also saw substantial gains.

Bitcoin fell below $100,000 multiple times as the government deadlock appeared to weigh more heavily in the past month. BTC remains more than 15% below its October record high of $126,000. During that period, as investors shifted away from riskier assets, Ethereum lost even more ground.

Markets have been volatile due to concerns about various macroeconomic uncertainties, as well as the shutdown. The nine Ethereum funds experienced net outflows of $579 million over the past eight trading days, while eleven spot Bitcoin ETFs lost more than $2.1 billion in assets.

Crypto stocks also suffered, with Bitcoin Treasury Strategy dropping over 8% and exchange giant Coinbase plummeting more than 9% last week. Politico, The Wall Street Journal, and The New York Times reported that Senate Democrats and Republicans had reached an agreement to reopen the government as this story was being published. The impasse was broken after a group of moderate Democrats voted in favor of procedural motions to fund the government.