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Monday Nov 10 2025 00:30
2 min
The cryptocurrency market could soon see some much-needed relief after the US Senate reached an agreement on a bipartisan budget deal to end the government shutdown, according to a report from Politico.
Pending legislation to fund the US government has more than enough support to pass the 60-vote threshold, Politico reported on Sunday, citing two individuals familiar with the matter.
Republican Senate Majority Leader John Thune's efforts to garner Democratic support for a House-approved bill appear to be gaining traction, potentially bringing an end to the prolonged 40-day government shutdown.
An official vote is still required to finalize the agreement. The ongoing uncertainty surrounding the US government's reopening has been a major factor hindering Bitcoin (BTC) and the broader crypto market from staging a significant rebound.
Bitcoin initially surged to a new high of $126,080 within the first week of the government shutdown on October 6th. However, it has since declined by over 17% to $104,370, according to data from CoinGecko. Bitcoin's decline over the past month included a double-digit percentage drop on October 10th, following President Trump's announcement of potential tariffs on China, which sent shockwaves through the financial markets.
The previous US government shutdown occurred between late December 2018 and late January 2019, during President Trump's first term.
Following the resolution of that shutdown on January 25, 2019, Bitcoin experienced a remarkable surge, rising over 265% from $3,550 to $13,000 over the subsequent five months.
Traders on prediction market Polymarket are increasingly confident that the government shutdown will be resolved by Thursday, with the market indicating a 54% probability of a resolution between Tuesday and Friday.
These odds represent a significant increase from just 27% a day prior. Similar trends are observed on competitor platform Kalshi, which estimates the shutdown will end on Friday, marking 44 days since its commencement.
This development comes as President Trump announced on Sunday that the majority of Americans would receive a $2,000 dividend from tariff revenue. He stated that approximately 85% of adults would be eligible, excluding high-income earners.
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