According to Cointelegraph, Bitcoin has been a focal point on social media as U.S. politicians work to resolve the ongoing government shutdown. The Senate recently passed a contentious funding bill, aiming to end the disruption. The bill required approximately 10 hours of negotiation on Monday, with Republicans securing the necessary 60 votes, including support from eight Democrats, to extend government funding through January next year.
Republican Senator Markwayne Mullin expressed optimism on Monday, stating via X that the bill would proceed to the House of Representatives for a vote, potentially reopening the government by Wednesday. If the House approves the bill, it will be sent to U.S. President Donald Trump for final approval, potentially concluding the longest government shutdown in U.S. history. The shutdown has left over 1 million federal employees unpaid, as reported by CNN, and has affected agencies like the Securities and Exchange Commission and the Commodities Futures Trading Commission, which have been operating with minimal staff.
The shutdown's impact extends beyond government agencies, notably affecting air travel. Unpaid air traffic controllers have contributed to a labor shortage, resulting in widespread flight cancellations, delays, and reduced operations at airports nationwide. Amid speculation that the shutdown's resolution was imminent, Bitcoin's price experienced a notable increase. After dipping to $99,300 on Friday, Bitcoin rebounded by 6.7%, reaching approximately $106,000, according to CoinGecko data.
Blockchain analytics platform Santiment highlighted Bitcoin's resurgence on social media, noting that the cryptocurrency has been the top-trending asset due to its price surge and optimism surrounding the shutdown's resolution. Analysts predict Bitcoin could rise to $150,000 by year-end, emphasizing its role as a store of value and a symbol of digital trust. Additionally, Bitcoin adoption is expanding, with over 4 million Square merchants now able to accept Bitcoin payments without fees, marking significant progress in mainstream payment integration.
Alongside Bitcoin, other cryptocurrencies such as Starknet (STRK), Uniswap (UNI), Monero (XMR), and XRP (XRP) have gained attention due to technological advancements, price increases, and strategic partnerships. These developments underscore the dynamic nature of the cryptocurrency market as it responds to broader economic and political shifts.
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