The bitcoin price even exceeded USD 107,000. The market is starting to price in the US government reopening. Is there a further boom ahead of us?
Bitcoin price is rising
The last 24 hours brought further increases and corrections. It managed to break through $107,000, but the bulls have now been pushed below $105,000.
Ether currently remains above $3,500, having even broken through $3,600 yesterday.
We are all waiting for the next Fed meeting, which will take place on December 10. For now, there are many indications that the Federal Reserve will lower interest rates again. by 25 bp. In addition, quantitative tightening will end on December 1.
And above all, we are approaching the end of the shutdown – all it takes is for the provisional budget to be passed by the House of Representatives and then signed by the president. The government will start working again and, above all, public employees will receive their paychecks.
In addition, Donald Trump announced that he would pay Americans a $2,000 “dividend” resulting from the profits generated by tariffs imposed on other countries. This may be reminiscent of what happened during the COVID-19 pandemic, when US citizens received checks to help them survive the pandemic crisis.
Everything adds up to an ideal environment for cryptocurrencies.
According to the expert
Gracy Chen, CEO of Bitget, described for us how she sees the current situation:
We believe the U.S. Senate’s resolution on a 36-day government shutdown is a key step toward restoring economic stability, while the bipartisan bill to clarify cryptocurrency regulation under the supervision of the CFTC represents a long-awaited breakthrough for the industry. All these changes point to a maturing regulatory environment that encourages innovation without stifling growth, increasing predictability and trust in digital asset markets. By addressing key policy uncertainties, the United States is laying the groundwork for widespread adoption of cryptocurrencies and solidifying their status as a legitimate asset class.
As macroeconomic uncertainty declines, institutional confidence is likely to increase, resulting in significant inflows of liquidity from traditional financial market participants eager to engage under clearer rules. This approach could result in the overall market entering a bullish phase by the end of the year, increasing trading volume, price stability and overall market share. For Bitget, such an environment reinforces the value of exchanges based on transparency, innovation and user trust, which are the fundamental pillars defining the next stage of sustainable development of the industry.
