New Era Dawns as United States Concludes Record-Long Government Shutdown, Sparking Cautious Crypto Market Response

Cryptocurrency Market’s Reaction Remains Measured

On November 12, President Donald Trump of the United States signed a bill to fund the government, concluding a record-breaking 43-day shutdown.

The bill had previously received approval from both the Senate and the House of Representatives. It allocates funding for government agencies until January 30, 2026, and enables the immediate resumption of operations at federal departments, including the SEC and CFTC.

With this development, the review process for spot altcoin ETF applications and the passage of cryptocurrency legislation, such as the GENIUS Act, is expected to accelerate. Additionally, official economic data will start to be released, which the digital asset market is particularly sensitive to.

During the shutdown, over 700,000 employees were placed on unpaid leave, with some being laid off.

The crisis was primarily caused by the struggle between Republicans and Democrats, with the latter criticizing the package and refusing to approve it due to the absence of subsidies for health insurance. Although the signed law does not include these provisions, there are promises to bring the issue to a Senate vote in December.

Trump stated he is willing to collaborate with Democrats on contentious issues, according to CNN.

Analysts from The Kobeissi Letter noted that during the 43 days of the shutdown, the U.S. national debt increased by $619 billion, translating to a daily rise of approximately $14.4 billion.

The cryptocurrency market’s response to the end of the shutdown was subdued. In the last 24 hours, Bitcoin saw a gain of 0.6%, trading at $103,900 at the time of writing.

Ethereum experienced a 3.3% increase over the same period, reaching around $3,500.

XRP emerged as the most dynamic asset among the top 10, with a price increase of 5.2%.

The market capitalization of the sector grew by 1.3%, amounting to $3.6 trillion.

The market sentiment indicator remains in the «extreme fear» zone.

Earlier, news about the possible reopening of the U.S. government provided a much stronger support for the market, allowing Bitcoin to hold above the $105,000 mark.

Analysts at Santiment pointed out a deterioration in trader sentiment, describing it as «good news for patient investors.»

Currently, the number of bullish and bearish comments about Bitcoin is roughly equal, though the overall volume is significantly below the usual level. In the case of Ethereum, positive social media posts are only 50% higher than negative ones, which is also below the norm.

«When market sentiment falls into the realm of pessimism, especially regarding market cap leaders, it’s a classic signal of an impending capitulation phase,» experts commented.

However, they noted a clear cyclicality: after the sell-off of «weak hands,» an accumulation phase follows, during which large investors buy assets at lower prices and lay the groundwork for the next rally.

As a reminder, analysts at QCP Capital have identified factors that could support Bitcoin through the end of the year.