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Crypto Bulls Take Charge Once More
Last weekend saw a quick reversal among both daily and long-term traders towards riskier assets after a prolonged downturn. Bitcoin jumped 4.4% on Sunday, while altcoins saw significant gains. The largest asset by market cap trades at $95,541, recovering from the previous week.
The red wave saw Bitcoin plunge below the $100,000 mark for the first time in months, leading to a wave of outflows. Shaky institutional leanings created a ripple effect in altcoins, causing the wider market cap to drop below $3.5 trillion.
A larger portion of Bitcoin losses came from heightened institutional outflows. These investors withdrew assets from Bitcoin funds and repositioned into altcoins to hedge losses.
Last week, investors withdrew nearly $1 billion from institutional funds, slowing expected growth towards the end of the year. This institutional slip, coupled with huge centralized exchange inflows, affected Bitcoin’s price for the second consecutive week.
 
Ethereum also found its bullish form this weekend, moving up nearly 8% within 24 hours. Ether is now back above the $3,500 mark, a milestone it lost as liquidations surged. Like Bitcoin, Ethereum bulls were affected by U.S. macroeconomic factors, triggering certain periods of ETF outflows.
Meanwhile, XRP and BNB soared 8.4% and 5% respectively, with the former garnering fresh institutional capital. XRP is the biggest gainer among top coins following the mainstream attention on cross-border trades and its general ecosystem.
The community is also keen on possible spot ETF approvals for XRP and Solana in the coming months. Meanwhile, Solana jumped 7% this weekend to trade at $166.
Most gains recorded across digital assets come on the back of a deal to end the longest government shutdown in United States history. After over a month at loggerheads, the US Senate reached a bipartisan deal to end the shutdown.
This impacted financial markets as well as other industries, fueling uncertainty. For crypto, mass liquidations crept in after flash offloads from whales and other investors. The impact on other sectors, such as aviation, was also significant, with flight delays reaching 10,000 and over 2,700 cancellations.
Source: https://zycrypto.com/bitcoin-xrp-solana-spark-as-us-senate-moves-to-end-government-shutdown/