Bitcoin has been trending on social media in recent days as US politicians worked to end the disruptive US government shutdown, which culminated in the Senate’s passage of the hotly contested funding bill on Monday.
It would have taken Republicans about 10 hours to do their job Monday and get the 60 votes (eight of which came from Democrats) needed to pass a funding bill that would cover most government spending through the end of January next year.
“After its passage, the CR is subject to a vote in the House before it is reopened. Hopefully we will be open by Wednesday,” noted Republican Senator Markwayne Mullin via X on Monday.
If the bill passes the House of Representatives, it would then be sent to US President Donald Trump for approval, ending the longest US government shutdown on record.
The U.S. government shutdown has been disruptive, with more than a million federal employees without pay, according to CNN.
Government agencies that deal with the crypto sector, such as the Securities and Exchange Commission and the Commodities Futures Trading Commission, are left with minimal staff.
Other sectors, particularly air travel, were also disrupted, with unpaid air traffic controllers ultimately leading to a severe labor shortage that saw airports across the United States cancel, delay and curtail their daily flights.
Bitcoin recovers beyond $106,000
As various reports over the weekend speculated that the US government shutdown was coming to an end, the price of Bitcoin (BTC) also climbed.
After falling as low as $99,300 on Friday, BTC has since risen 6.7% to around $106,000 at the time of writing, according to CoinGecko data.
Related: Jack Dorsey’s Square just opened 4 million merchants to Bitcoin
According to a post published Monday by blockchain analytics platform Santiment, the tag “$BTC” is the top-trending cryptocurrency on social media over the past few days, suggesting that enthusiasm and bullish momentum are picking up as the shutdown nears its end.
“$BTC: Trending due to recent price rally past $106,000, optimism around resolution of US government shutdown, and bullish market sentiment,” the post read, adding:
“Analysts predict a rise to $150,000 by the end of the year, highlighting Bitcoin’s role as a store of value and symbol of digital trust. Additionally, Bitcoin adoption is increasing with more than 4 million Square merchants now able to accept Bitcoin payments without fees, marking a significant milestone in the integration of traditional payments.”
Alongside BTC, the next four trending crypto assets include: Starknet (STRK), Uniswap (UNI), Monero (XMR) and XRP (XRP), all of which have attracted significant attention for various technological developments, token price surges or key partnerships.
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