The cryptocurrency market started the week in bullish territory as Asian markets opened and stock markets pushed upwards. Market sentiment has been buoyed by reports that Washington was close to resolving the ongoing government shutdown. According to reports, the Senate has advanced a 60-vote deal to reopen the central government, with the proposal already sent to the House and President Trump for approval. The agreement funds government operations through January 2026, reverses certain employee firings, secures SNAP benefits through the 2026 fiscal year, and sets up a vote on the Affordable Care Act subsidies. The relief saw the cryptocurrency market respond positively as investors began rotating capital. As a result, Bitcoin (BTC) overcame its sluggish weekend to make a strong recovery and cross $106,000. The flagship cryptocurrency was trading around $102,000 over the weekend. However, sentiment picked up as Asian markets opened for the week. As a result, BTC registered a sharp jump, crossing $105,000 to its current level. BTC is up over 4% in the past 24 hours, trading around $106,139. Meanwhile, Ethereum (ETH) has registered an even bigger rally. The world’s second-largest cryptocurrency has regained $3,600 and is up nearly 6%, trading around $3,605. Ripple (XRP) is up almost 8%, while Solana (SOL) is up 6%, trading around $167. Dogecoin (DOGE) is also in positive territory, while Cardano (ADA) is up over 6%, trading at $0.588. Chainlink (LINK) is up almost 7%, while Stellar (XLM) is up 6%. Hedera (HBAR) , Litecoin (LTC) , Toncoin (TON) , and Polkadot (DOT) have also registered substantial price increases. Trump Media Posts Q3 Loss Trump Media and Technology Group reported a $55 million loss in its third-quarter earnings, as its Bitcoin (BTC) holdings were not enough to prop up its balance sheet. The company, which operates the Truth Social platform, disclosed that its Q3 net loss increased substantially from the $19.3 million in losses recorded in Q3 2024. The company also reported a marginal decline in revenue, which fell from over $1 million a year ago to $972,900. Trump Media shares also ended Friday down 1.73% at $13.10. Trump Media reported that it held 11,542 Bitcoin (BTC) as of September 30. The company first announced its intention to begin buying BTC in late July, flagging plans to acquire more, along with similar cryptocurrencies. The company generated $15.3 million of realized income from its Bitcoin options investment, posting $33 million in unrealized gains from its Cronos holdings. Senate Cuts Deal To End US Shutdown The cryptocurrency market could soon heave a sigh of relief after the US Senate reached an agreement on Sunday on a three-part budget deal to end the ongoing government shutdown. According to reports, the Senate passed the bills in a 60-40 vote on Sunday night. The agreement was Republican Senate Majority Leader John Thune’s 15th attempt to secure Democratic support for a House-approved bill. The vote could potentially end the longest government shutdown as early as this week. The uncertainty over the shutdown and when the US government would resume key services has been a key factor behind BTC’s sluggish price action. It has also impacted the broader crypto market. The flagship cryptocurrency initially rallied to a new all-time high following the shutdown, but has struggled to regain momentum and fell below $100,000 last week. Circle Set To Release Earnings Report Several companies in the crypto ecosystem, including Coinbase and Robinhood, have posted strong results. Now, Circle, the entity behind USDC, is set to release its results this week. The results come at a time when the stock has plunged over 65% from its all-time high. Circle’s stock has struggled in recent months as investor enthusiasm dwindled. Additionally, USDC growth has also stalled, with the stablecoin’s market capitalization stationary around $75 billion. According to Artemis data, transaction volume declined 24% to $2.4 trillion over the past 30 days. Meanwhile, the number of addresses fell 6% to $13.2 million, and transactions recorded an 8% decline. Trump Announces Possible Tariff Dividend US President Donald Trump announced on Sunday that most Americans will receive a $2,000 “dividend” from revenues collected through tariffs. Trump reiterated that the Executive Branch has full authority to impose tariffs on other countries, while floating a possible dividend on Truth Social. “We are taking in trillions of dollars and will soon begin paying down our enormous debt — $37 trillion. Record Investment in the USA, plants and factories going up all over the place. A dividend of at least $2000 a person, not including high-income people, will be paid to everyone.” Bitcoin (BTC) Price Analysis Bitcoin (BTC) has started the week on a bullish note as markets recovered, thanks to progress in ending the ongoing government shutdown. The flagship cryptocurrency started the weekend in positive territory, rising nearly 2% on Friday. However, selling pressure returned on Saturday as BTC fell 0.97% to $102,285. Positive sentiment returned on Sunday as BTC rose over 2% to end the weekend at $106,199. The price is up over 1% during the ongoing session, trading around $106,220. Market analysts highlighted that BTC’s weekly close was extremely significant, marking the $103.5 level as critical. Trader Titan of Crypto noted, “Key level of the week: $103,500. A weekly close below isn’t dramatic, but a confirmed breakdown next week would signal the bull market is likely over. Not there yet.” Other traders highlighted a close above the 50-week EMA, stating that a weekly close below this level could put the bull market in jeopardy. Trader Max Crypto stated, “We don’t want a weekly close below this at any cost.” While traders are wishing for a strong recovery, one analyst has warned that BTC reaching $250,000 this year could be “one of the worst things” to happen. According to the macro analyst, BTC reaching $250,000 too quickly could lead to a “blow-off top” moment, with investors scrambling to secure profits. Macro analyst and investor Mel Mattison stated in an interview with Anthony Pompliano, “One of the worst things that could happen is Bitcoin shoots up to $250,000, and the S&P to 8,000 in like 3 months. And you get this blow-off top, and everybody rushes to the exits to take profits, and it starts going down.” Mattison believes BTC is having healthy rotations, with the price action reaching some interesting points. “We’re having healthy rotations, healthy movement, and we are getting some very interesting points at some of the channels that I look at.” BitMEX co-founder Arthur Hayes and BitMine Chairman Tom Lee recently reiterated a bullish outlook for Bitcoin, suggesting the flagship cryptocurrency could yet reach $250,000 before the end of the year. November has historically been the highest-performing month on average for Bitcoin, with average returns of around 42%. At current prices, this would put BTC around $145,000 by the end of the month, aligning with Canary Capital CEO Steven McClurg’s prediction that BTC could reach $140,000-$150,000 by the end of the year before entering a bear market in 2026. However, the market is divided about a bearish 2026. Bitwise CIO Matt Hougan believes 2026 will be another up year for BTC. BTC started the previous weekend in positive territory, rising 1.15% on Friday and settling at $109,555. Price action remained positive on Saturday and Sunday as BTC rose 0.45% and 0.44% to cross $110,000 and settle at $110,536. Selling pressure returned on Monday as the price fell nearly 4% and settled at $106,557. The bearish sentiment intensified on Tuesday as BTC slipped below $100,000, falling to a low of $98,892. However, it rebounded from this level to reclaim $100,000 and settle at $101,468. Despite the overwhelming selling pressure, BTC recovered on Wednesday, rising over 2% and settling at $103,869. Source: TradingView BTC returned to bearish territory on Thursday, dropping to a low of $100,235 before settling at $101,290. The price slipped below $100,000 again on Friday, falling to a low of $99,170 before recovering and settling at $103,284, ultimately rising nearly 2%. Price action was mixed over the weekend as BTC fell 0.97% on Saturday before rising 2.36% on Sunday and settling at $104,964. BTC has reclaimed $106,000 during the ongoing session, with the price up 1.51% at 106,295. Ethereum (ETH) Price Analysis Ethereum (ETH) recovered over the weekend as bullish sentiment returned, as US lawmakers agreed on a draft that could end the ongoing government shutdown this week. ETH started the weekend positively but lost momentum on Saturday, dropping nearly 1% and settling at $3,401. Bullish sentiment returned on Sunday as ETH rallied, rising over 5% and settling at $3,583. The price has risen almost 1% during the ongoing session, trading around $3,611. According to reports, the Senate advanced a 60-vote cloture deal to reopen the federal government, with the proposal already sent to the House and President Trump for approval. The agreement funds the government through January 30, 2026, and reverses certain employee firings. It also secures SNAP benefits through the 2026 fiscal year, and sets up a December vote on Affordable Care Act subsidies. Analysts believe that while selling pressure has eased, ETH’s recovery could remain limited unless broader market headwinds subside. According to the available on-chain data, there has been a gradual decline in Ethereum outflows over the past few days, suggesting a slowdown in selling activity and a potential stabilization in price. The consistent reduction in exchange outflows indicates cooling bearish sentiment. However, it could also be a pause instead of a complete reversal. Additionally, the drop in selling volume is yet to translate into accumulation. ETH’s RSI paints a cautious picture, with the indicator below the neutral 50 mark. This indicates persistent bearish sentiment despite a rebound from oversold conditions. ETH started the previous week in positive territory, rising 1.14% on Friday. Buyers retained control over the weekend as the price rose 0.67% on Saturday and 0.87% on Sunday to settle at $3,908. However, price action turned bearish on Monday as ETH fell nearly 8% and settled at $3,604. Selling pressure intensified on Tuesday as the price plunged to an intraday low of $3,058. However, it rebounded from this level to reclaim $3,200 and settle at $3,286, ultimately dropping almost 9%. Despite the overwhelming selling pressure, ETH recovered on Wednesday, rising over 4% to reclaim $3,400 and settle at $3,424. Source: TradingView Selling pressure returned on Thursday as ETH fell over 3% and settled at $3,313. The price fell to an intraday low of $3,196 on Friday as selling pressure intensified. However, it rebounded from this level to reclaim $3,400 and settle at $3,433, ultimately rising 3.63%. Price action was mixed over the weekend as ETH fell 0.94% on Saturday before rising 5% on Sunday and settling at $3,583. The price is marginally up during the ongoing session, trading around $3,604. Solana (SOL) Price Analysis Solana’s (SOL) ongoing recovery has stalled around the $170 mark. The altcoin started the week in positive territory, rising over 4% on Friday. However, it lost momentum on Saturday, dropping over 2% and settling at $158. Bullish sentiment returned on Sunday as the price rose 4.09% to cross $160 and settle at $164. SOL is up over 1% during the ongoing session, trading around $166. While SOL’s recovery has brought relief to investors, Bitwise’s Solana ETF has given a lot to cheer about. The nascent ETF has recorded over $126 million in net inflows during its first full week of trading. Meanwhile, the Bitwise Solana Staking ETF (BSOL) has generated over $545 million in net inflows since its debut on the NYSE. Bitwise CEO Hunter Horsley stated on X, “$30,000,000 of inflows into BSOL yesterday. Solana purchased. Inflows every day for the last 8 days since its launch. Over $500,000,000 in total. It’s clear investors want Solana exposure. With BSOL, we’ve aimed to construct a high-quality way for investors to get access: 100% staked, very low fees. Grateful to those entrusting Bitwise to steward their assets.” In comparison, spot Bitcoin ETFs have registered over $2.1 billion in outflows, while Ethereum ETF outflows are around $579 million. SOL started the previous weekend in positive territory, rising 1.34% on Friday and settling at $187. The price fell 0.45% on Saturday before rising 0.76% on Sunday to end the weekend at $187. Selling pressure returned on Monday as SOL fell 11.55% and settled at $166. Sellers retained control on Tuesday as the price fell 6.65% to an intraday low of $145 before settling at $155. Despite the overwhelming selling pressure, SOL recovered on Wednesday, rising nearly 5% to cross $160 and settle at $162. Source: TradingView SOL lost momentum on Thursday, dropping over 4% and settling at $155. Positive sentiment returned on Friday as the price rose over 4% to reclaim $160 and settle at $161. Price action was mixed over the weekend as SOL fell 2.24% on Saturday before rising 4.09% on Sunday and settling at $164. The current session sees SOL up 1.28%, trading around $166. Cardano (ADA) Price Analysis Cardano (ADA) has recovered over the past few days, rising from a low of $0.491 to reclaim $0.50 and moving to $0.561. Despite its recovery, ADA has underperformed its peers, largely due to longstanding concerns around its ecosystem. The Cardano blockchain has a few developers and decentralized applications on its platform, but they have a negligible presence in their respective industries. Cardano founder Charles Hoskinson is banking on two major developments to boost the Cardano ecosystem and ADA. The first is the Leios upgrade, which introduces the input, endorsement, and ranking blocks to enable parallel processing. The second is Midnight, a sidechain that will boost the ecosystem’s growth over time. The security-focused sidechain will be a Cardano asset, wholly interoperable with Cardano. According to ADA’s daily chart, the price crashed from a high of over $1 in September to around $0.491, forming an inverse cup and handle, an indication of continued bearish pressure. ADA registered a 1.50% increase on Friday (October 31) and moved to $0.610. The price registered a marginal rise on Saturday and a marginal decline on Sunday, ending the weekend at $0.610. Selling pressure intensified on Monday as ADA fell over 9% and settled at $0.553. Sellers retained control on Tuesday as the price fell 5.61% and settled at $0.522. Despite the overwhelming selling pressure, ADA recovered on Wednesday, rising 4.41% and settling at $0.545. Source: TradingView ADA lost momentum on Thursday as the price fell 2,39% and settled at $0.532. The price recovered on Friday, rising over 8% and settling at $0.576. Price action was mixed over the weekend as ADA fell 1.22% on Saturday and 1.58% on Sunday, settling at $0.578. ADA is up over 2% during the ongoing session, trading around $0.591. Uniswap (UNI) Price Analysis Uniswap (UNI) started the previous weekend in the red, dropping nearly 2% on Friday and settling at $5.741. Sentiment turned positive over the weekend as UNI rose over 2% to $5.860. However, it lost momentum on Monday, plunging over 11% and settling at $5.198. Sellers retained control on Tuesday as the price fell 2.46% to a low of $4.735 before reclaiming $5 and settling at $5.070. UNI faced volatility on Wednesday as buyers and sellers struggled to take control. Buyers ultimately gained the upper hand as the price rose by over 5% and settled at $5.347. Source: TradingView Selling pressure returned on Thursday as UNI fell almost 2% and settled at $5.252. Bullish sentiment returned on Friday as UNI rallied, rising nearly 12% and settling at $5.877. Price action remained positive over the weekend as UNI rose 2.21% on Saturday and by over 9% on Sunday, crossing $6 and settling at $6.573. The price is up almost 4% during the ongoing session, trading around $6.823. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
