Breaking: President Donald Trump Signs Bill to End Government Shutdown, Bitcoin Bounces

Varinder Singh
2 hours ago
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President Donald Trump Signs Bill to End Government Shutdown, Bitcoin Bounce

Highlights

  • US President Donald Trump signs bill to reopen the US government.
  • The US House voted 222-209 to pass a bill and end the government shutdown.
  • Bitcoin, Ethereum, XRP, and broader crypto market witnessed a slight rebound.

US President Donald Trump has officially signed a bill ending the longest-ever US government shutdown. Bitcoin (ETH), Ethereum (ETH), XRP, and the broader crypto market saw a slight bounce.

US Government Shutdown Officially Ends as President Trump Signs Bill

President Donald Trump just signed a bill to reopen the US government after 43 days, the White House said. This comes following a 222-209 vote by the House of Representatives to pass a bill to end the government shutdown.

“The Democrats shutdown has inflicted massive harm. They caused 20,000 flights to be cancelled or delayed” Trump said. “They deprived more than 1M government workers from their paychecks and cut off food stamp benefits of millions and millions of Americans in need,” he added.

The bill has restored pay for 800,000 furloughed workers and resumed services, but omits extensions for Affordable Care Act subsidies and SNAP protections.

Earlier this week, the Senate voted 60-40 to advance a funding bill to end the government shutdown. Democrats and Republicans reached a bipartisan agreement after 14 unsuccessful attempts.

Today, White House Press Secretary Leavitt just said the October CPI and jobs data will likely never be released due to the Schumer shutdown. Moreover, Financial Services GOP Chairman French Hill released a statement regarding the longest shutdown in U.S. history finally coming to an end.

Bitcoin, Ethereum, XRP Rebound

Bitcoin, Ethereum (ETH), XRP and the broader crypto market saw a much-needed rebound as Trump ended the government shutdown. The global market cap saw a slight bounce to $3.45 trillion over the last 24 hours.

BTC price reclaims above $102,400, up more than 1% in the last 24 hours. The 24-hour low and high are $100,836 and $105,297, respectively.

In the options market, both open interest and trading volume continue to rise, with a notable increase in out-of-the-money option trades. This indicates growing divergence among market participants regarding future outcomes, reflected in slight increases across major implied volatility maturities.

ETH price jumped nearly 2% in the last few hours, with the price currently trading at $3,450. The 24-hour low and high are $3,373 and $3,586, respectively.

Meanwhile, XRP price has jumped nearly 4% to $2.44 from the 24-hour low of 2.32 over the past 24 hours. Trading volume and futures open interest also spiked in the last 24 hours.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Varinder is a seasoned leader in the fintech and crypto media with over 12 years of experience, including over 6 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 6000 news articles and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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