(MENAFN- Crypto Breaking) Bitcoin has regained momentum amidst recent developments in U.S. politics, signaling potential stability in the broader cryptocurrency market. Following the House's tentative steps toward reopening the government, Bitcoin surged past $106,000, reflecting renewed investor confidence and bullish sentiment. This rally underscores the close correlation between political stability and crypto market performance, highlighting the increasing influence of macroeconomic factors on cryptocurrency prices.

• The U.S. Senate has approved a funding bill ending the record-long government shutdown, with the bill now passing to the House for approval.
• Bitcoin's price rebounded sharply, climbing over 6% to around $106,000 after dropping below $99,300 last week.
• Market sentiment is buoyed by optimism about the government's reopening and growing mainstream crypto adoption, with over 4 million Square merchants now accepting Bitcoin.
• Other cryptocurrencies like Starknet, Uniswap, Monero, and XRP also gained attention due to technological updates and strategic partnerships.

Bitcoin's recent price movement reflects how political developments in the United States are closely intertwined with the dynamics of the cryptocurrency market. The Senate's successful vote of approximately 10 hours to approve a funding bill-supported by both Republicans and a handful of Democrats-marks a pivotal step toward ending the longest government shutdown in U.S. history. The bill, which allocates funds through the end of January, is now heading to the House, with hopes that President Donald Trump will sign it into law to reopen federal agencies.

The funding bill advances to the House of Representatives. Source: C-Span

If approved, it is expected to bring an end to over a month of government shutdown, which has severely impacted various sectors. Over 1 million federal employees have gone unpaid, and agencies overseeing cryptocurrency regulation-such as the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC)-operate with minimal staff. Other sectors, especially air travel, have encountered widespread disruptions, with unpaid air traffic controllers causing significant delays and cancellations across airports nationwide.

Bitcoin recovers past $106,000

Amid optimism that the shutdown's resolution was imminent, Bitcoin's price surged. After falling to a low of approximately $99,300 on Friday, BTC experienced a substantial rebound, climbing by 6.7% to around $106,000, according to CoinGecko data. Such movement signals a strengthening of bullish sentiment among crypto investors, who see the political stability as crucial for fostering positive market conditions.

Blockchain analytics platform Santiment reported that the hashtag“$BTC” became the top trending cryptocurrency on social media in recent days. This trend reflects growing enthusiasm and optimism among traders and investors as markets react to the potential end of the shutdown and the strengthening of Bitcoin's role as a store of value amidst macroeconomic uncertainties.

Alongside Bitcoin, other cryptocurrencies like Starknet (STRK), Uniswap (UNI), Monero (XMR), and XRP have attracted renewed attention driven by technological developments, strategic partnerships, and surges in token prices. These trends underscore the increasing importance of innovation and mainstream integration in shaping crypto markets' trajectory.

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