TLDR
- U.S. shutdown nears end as Senate votes 60-40 on a bipartisan plan reopening government after 40 days.
- Democrats secure commitments for rehiring federal employees, back pay, and a December vote on ACA tax credits.
- Progressive and conservative senators remain divided as shutdown effects intensify across major sectors.
- Crypto market cap climbs to $3.59T with Bitcoin at $106K and Ethereum rising 6.46% after Senate progress.
- The Fear Index at 29 signals caution while trading volume and market activity increase through early November.
The Senate voted 60-40 on Sunday to advance a bipartisan plan to reopen the government after a 40-day shutdown. The agreement funds several departments, including Agriculture, Veterans Affairs, and the FDA, through the fiscal year. Other agencies would operate until January 30, 2026, under a continuing resolution. Senate Majority Leader John Thune confirmed the vote followed extensive negotiations involving both parties.
Key Provisions and Commitments
According to a report by POLITICO, Democrats secured commitments from the Trump administration to rehire laid-off federal employees and provide back pay. The deal also ensures a December Senate vote on legislation extending Affordable Care Act tax credits. Lawmakers from both chambers expect the package to reach the House later this week.
Some progressive senators, including Elizabeth Warren, opposed the deal, arguing it fails to secure health care extensions. Senate Democrats Jeanne Shaheen, Angus King, and Maggie Hassan defended the agreement as a necessary step to restore government operations. Meanwhile, conservative senators raised concerns about spending and policy provisions. The House could act by week’s end if the Senate clears the bill quickly. Lawmakers face mounting pressure as economic and travel disruptions intensify, marking the shutdown’s most critical stage yet.
How Did the Crypto Market React?
After the agreement was made by the senate, the crypto market now leans on the positive side after exhausting the recent bearish trend. According to CoinMarketCap data at the time of press, the cryptocurrency market showed strong movement with a total market capitalization of $3.59 trillion and a 24-hour volume of $169.48 billion. Among the top digital assets, Bitcoin traded at $106,384.81, gaining 4.63%, while Ethereum increased by 6.46% to $3,622.34. Binance Coin reached $1,003.79, advancing 1.59%, and Solana rose 6.97% to $169.31. XRP led the gains with an 11.71% increase, trading at $2.5366.
Additionally, the Fear and Greed Index recorded 29, indicating prevailing fear among investors. The Altcoin Season Index stood at 34, showing dominance of Bitcoin over altcoins. The CoinMarketCap 20 Index climbed 5.24% to $226.74, signaling broader upward market movement. The report reveals that over the past 30 days, the market chart displayed strong volatility, with noticeable dips in late October followed by a steady recovery into November, reflecting increasing market activity and trading volume.
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Source: https://blockonomi.com/u-s-shutdown-nears-end-after-60-40-senate-vote/