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Bitcoin Recovers to $106K Amid Progress on U.S. Budget Deal
Bitcoin rose on Monday alongside a broader rally in risk assets, as U.S. lawmakers made progress toward ending a prolonged government shutdown.
The world’s largest cryptocurrency gained 4.3% to $106,330.9 as of 02:06 GMT.
Monday’s increase extended Bitcoin’s weekend recovery, as the cryptocurrency attracted buyers after steep losses in October and early November.
Last week, Bitcoin entered a bear market, falling over 20% from its record high reached in early October. The token led a broader crypto market selloff and has struggled to break above the $110,000 level since mid-October.
Nevertheless, improved risk appetite helped Bitcoin, particularly after the U.S. and China reached a trade deal at the end of October.
U.S. Senate Advances Bill to End Shutdown
Risk sentiment strengthened on Monday after the U.S. Senate voted to advance a bill aimed at funding the government through January 30, 2026. The Senate agreed 60–40, after eight Democratic senators reached a deal with Republicans.
The bill will now proceed to a full Senate vote in the coming days.
The expected end of the shutdown, now the longest in U.S. history, is seen as boosting sentiment toward the world’s largest economy, especially since it will allow the government to resume publishing key economic data.
Ending the shutdown may also help ease concerns about the economic impact of the government halt, which is estimated to have cost the economy tens of billions of dollars over the past month.
XRP Rises Amid Optimism Over Ripple’s Funding
XRP outperformed major altcoins, rising more than 8% to $2.4570.
The token’s rally was driven mainly by optimism surrounding Ripple Labs’ $500 million funding round, valuing the company at $40 billion.
The fundraising comes after Ripple denied rumors that it plans to go public via an IPO.
XRP rose on expectations that Ripple will use part of the new capital to repurchase tokens, a bullish factor for prices.
Cryptocurrency Prices Today: Altcoins Follow Bitcoin Higher
The broader cryptocurrency market rose alongside Bitcoin, recovering from sharp losses over the past month.
Ether, the world’s second-largest cryptocurrency, rose 5.7% to $3,600.99, while BNB gained 1.6% to $1,004.70.
Cardano and Solana were up nearly 6%.
Among meme coins, Dogecoin added 4%, while $TRUMP jumped almost 10%.
