On November 12, U.S. President Donald Trump signed a government funding bill, officially ending a record 43-day shutdown. This marked the longest interruption of federal government operations in the nation’s history.
What the New Law Includes
The bill, previously approved by the Senate and the House of Representatives, provides funding for federal agencies through January 30, 2026.
Its signing allows for the immediate resumption of work at federal bodies, including:
- the Securities and Exchange Commission (SEC)
- the Commodity Futures Trading Commission (CFTC)
This is expected to accelerate:
- the review of applications for spot altcoin ETFs,
- progress on crypto legislation, including the GENIUS Act,
- the publication of key macroeconomic data, to which the digital asset market is particularly sensitive.
Political Standoff at the Core of the Crisis
The shutdown stemmed from a deep confrontation between Republicans and Democrats.
- Democrats criticized the initial funding package and refused to support it due to the absence of medical insurance subsidies.
- The law signed by Trump still does not include these subsidies.
- However, Senate leaders have promised to bring the issue of health subsidies to a separate vote in December.
Donald Trump has stated he is ready to work with Democrats on contentious issues, CNN reports.
Social and Economic Fallout
The prolonged shutdown hit hundreds of thousands of federal workers:
- more than 700,000 employees were placed on unpaid leave,
- some of them ultimately lost their jobs.
At the same time, the national debt kept rising. According to estimates by The Kobeissi Letter:
- over the 43 days of the shutdown, U.S. government debt increased by $619 billion,
- the average daily increase was around $14.4 billion.
Crypto Market Reaction: Muted, Not Euphoric
Despite the significance of the event, the digital asset market reacted rather modestly to the end of the shutdown.
Bitcoin (BTC)
- gained about 0.6% over the past 24 hours,
- and is trading around $103,900 at the time of writing.
Ethereum (ETH)
- is up roughly 3.3%,
- trading near $3,500.
XRP
- became the most dynamic asset in the top 10,
- with its price rising by 5.2%.
Total crypto market capitalization:
- increased by 1.3%,
- reaching $3.6 trillion.
At the same time, the market sentiment index remains in the zone of “extreme fear,” highlighting persistent nervousness among participants.
Earlier, news about a potential government restart provided much stronger support to the market: back then, bitcoin managed to hold above $105,000.
Trader Sentiment: A Hidden Signal for Investors?
Analytics firm Santiment has noted a deterioration in trader sentiment, calling it “good news for patient investors.”
Key observations:
- The number of bullish and bearish comments on bitcoin is currently roughly balanced.
- Overall discussion volume around BTC is significantly lower than usual.
- For Ethereum, the share of positive social media posts is only about 50% higher than negative ones — also below typical levels for bullish phases.
Experts note that when sentiment shifts into a pessimistic zone toward large-cap assets, it often becomes a classic signal of an approaching capitulation phase.
Market Cycles: From Capitulation to Accumulation
According to analysts, a clear cyclical pattern has taken shape in the crypto market:
- Sell-Off Phase
- Investors with “weak hands” capitulate and lock in losses.
- Accumulation Phase
- Larger players gradually buy up assets at depressed prices.
- Setup for the Next Rally
- These accumulated positions form the foundation for the next upward cycle.
The end of the record shutdown and the restoration of normal operations at key regulators could become important pieces of this puzzle — especially in terms of approving new crypto products and building a more predictable regulatory environment.
