US Government Shutdown Ends: Crypto Market Surges, Eyes 2019 Bitcoin Rally Repeat
The United States Senate, late on November 9th, advanced a temporary spending bill with a decisive 60-40 vote, signaling a potential end to the longest government shutdown in U.S. history, spanning 40 days. This breakthrough immediately reignited market optimism, particularly in the cryptocurrency sector, where major digital assets experienced a robust rebound. Traders are now keenly observing historical patterns, speculating whether Bitcoin will mirror its astonishing 300%+ surge that followed the last government reopening.
According to CoinGecko data, Bitcoin (BTC) saw a 4.5% increase over the past 24 hours, reaching a trading price of $106,301. Ethereum (ETH) outperformed, jumping 5.9% to $3,613. Other prominent altcoins also rallied, with Ripple (XRP) climbing 8.2%, BNB rising 2.1%, and Solana (SOL) experiencing a significant 6.1% surge.
Washington’s Breakthrough Ignites Crypto Rally
The catalyst for this impressive market uptick originated from Washington D.C., where bipartisan senators reportedly struck an interim funding deal. This agreement marks the crucial first step toward resolving the unprecedented 40-day government closure. On Sunday evening, the Senate successfully passed a procedural vote (60-40) to reopen the government, proposing to extend federal funding until January 30th in exchange for a subsequent vote on medical subsidies.
The legislation now moves to the House of Representatives for approval. If it clears this hurdle, it is anticipated to be signed into law by President Trump as early as November 12th, leading to an immediate government reopening and officially concluding the shutdown’s impact.
Peter Chung, Head of Research at Presto Research, highlighted the significant relief this political resolution brings to recent market anxieties:
“The prolonged shutdown led to a severe liquidity crunch in the overnight funding market, a pressure keenly felt by investors in recent weeks. With uncertainty now dispelled, risk assets are poised for repricing, anticipating a landscape of looser monetary policy, de-escalating trade tensions, and fiscal stimulus measures in preparation for next year’s mid-term elections.”
Vincent Liu, CIO of Kronos Research, echoed this sentiment, attributing the current rally to a combination of easing macroeconomic uncertainty and renewed policy optimism. He further noted that President Trump’s proposed “tariff bonus” also contributed to an uptick in investor risk appetite.
Historical Echoes: Bitcoin’s Post-Shutdown Surge of 2019
On social media platforms, many traders are drawing parallels to the aftermath of the 2019 U.S. government shutdown. Renowned analyst Ash Crypto took to X (formerly Twitter) to remind followers:
“The last time the U.S. government reopened after a shutdown, Bitcoin made a five-month rally, surging by over 300%.”
The last time the U.S. government reopened after a shutdown, Bitcoin made a five-month rally, surging by over 300%. pic.twitter.com/q6Muil7lF
— Ash Crypto (@AshCrypto) November 9, 2025
While such historical patterns are intriguing, it’s crucial to consider that the link between government reopenings and Bitcoin’s price movements might lean more towards correlation than direct causation.
For instance, during the 2018-2019 shutdown, Bitcoin initially dipped from approximately $4,014 to below $3,600. It only began its rebound and subsequent seven-week winning streak *after* the government agreement was reached, eventually breaking past $5,000 in April 2019 to kickstart a new upward cycle. However, this rally was also significantly fueled by improved liquidity following the “crypto winter” and a broader resurgence in global risk appetite.
Is History Repeating? Liquidity and Fed Stance Remain Key
While the current scenario presents some similarities, the underlying market dynamics and core variables have evolved. The U.S. liquidity environment remains constrained, and the Federal Reserve (Fed) maintains a cautious monetary policy stance. This suggests that Bitcoin’s future trajectory will likely be more influenced by signals from monetary policy rather than political agreements alone.
Nevertheless, many traders continue to perceive news related to the government shutdown as a “high-impact trigger” that could divert capital into the burgeoning cryptocurrency market.
On-chain data further corroborates this sentiment, revealing a nearly $700 million increase in Bitcoin futures open interest over recent days, accompanied by soaring funding rates. This confluence of data points to a strong bullish bias among market participants.
Disclaimer: This article provides market information only. All content and views are for reference purposes only and do not constitute investment advice. They do not represent the views or positions of the author or Blockcast. Investors should make their own decisions and trades, and the author and Blockcast will not bear any responsibility for direct or indirect losses incurred by investors’ transactions.
