• Bitcoin bounced back to trade near $106,000 on shutdown resolution hopes.
• The end of the shutdown could release a $150-200B liquidity jolt into markets.
• However, the shutdown is stalling crucial US crypto regulation bills.

Cryptocurrency markets started the week on a strong footing, with Bitcoin holding above the key $105,000 level as growing optimism around a potential resolution to the US government shutdown helped steady broader risk sentiment.

Following a volatile period, a weekend rally extended into Monday, with Bitcoin recovering from an early dip to trade near $106,000.

However, analysts warn that while an end to the shutdown could provide a short-term liquidity boost, the prolonged political impasse has created a significant, under-the-radar threat to the crypto industry’s long-term regulatory future.

The upbeat mood was felt across the asset spectrum.

In the crypto space, Ether traded just under $3,600, while XRP led gains among major altcoins, jumping 9% on anticipation of a potential spot ETF.

Crypto-related stocks, which suffered heavy losses last week, also rebounded strongly, with Coinbase (COIN) rising 4.1% and Robinhood (HOOD) gaining 4.8%.

The rally mirrored gains in traditional markets, where the S&P 500 climbed 1.6% and the Nasdaq rose 2.2%.

This recovery was largely fueled by growing confidence that the record-breaking 39-day government shutdown may be nearing an end, a sentiment bolstered by prediction market data and a weekend social media post from President Donald Trump.

The shutdown’s double-edged sword for crypto

While the market is cheering a potential resolution, the shutdown has created a complex “Jekyll and Hyde” scenario for the digital asset industry, according to David Nage, head of research at Arca.

In a Monday note, Nage explained the positive side: an end to the shutdown could release a massive liquidity injection of 150–200 billion from the Treasury General Account into bank reserves. Historically, such a jolt has been a major tailwind for risk assets like crypto.

However, there is a significant downside.

“The larger story for digital asset adoption over the next three to five years is being shaped behind the scenes… and the Banking Committee staff rooms are currently dark due to the shutdown,” Nage explained.

A race against time for US crypto regulation

The ongoing shutdown has completely stalled progress on crucial crypto legislation, including the CLARITY Act and the Senate’s digital asset market structure bill.

Nage warned that this delay poses a greater long-term threat to the industry than recent market volatility.

With the 2026 midterm elections approaching, the window for passing comprehensive digital asset regulation is closing.

“If comprehensive digital asset legislation is delayed until 2026 and then dies in midterm politics, the industry will miss out on the regulatory clarity needed to attract institutional capital and achieve sustainable growth,” Nage said.

He concluded that the timing is critical. “If the shutdown ends in November, we may benefit from both a liquidity injection and a legislative opportunity,” he said.

If it drags into December, the legislation may miss its window.

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

• Bitcoin (BTC) regained its footing, trading around $106K after a tense weekend involving a US strike on Iran.
• Bitcoin’s resilience is attributed to its growing integration into the broader macro-financial system via institutional infrastructure.
• Bitcoin ETFs saw massive inflows ($1.1B last week, $350M one day), cited as a major bullish tailwind.

Bitcoin (BTC) has regained its footing, hovering around the $106,000 mark as the Asian trading week gets underway on Wednesday.

This resilient performance comes after a tense weekend that saw the US bomb an Iranian nuclear site, with Bitcoin now pushing past levels seen earlier this month when Israel first bombed Iran.

This stability, in the face of significant geopolitical turmoil, is increasingly being attributed to a fundamental shift in Bitcoin’s market structure and a renewed wave of innovation flocking to its blockchain.

Part of the reason why the crypto market has recovered so swiftly alongside traditional markets is the growing correlation between the two.

The days of Bitcoin operating in a vacuum appear to be over. “Bitcoin’s sensitivity to traditional asset classes and macroeconomic indicators has evolved markedly over the past few market cycles, reflecting its growing integration into the broader macro-financial system,” reads a recent report from Glassnode and Avenir Group.

This integration has been facilitated by the development of a robust institutional infrastructure. “Institutional infrastructure has reshaped how capital engages with bitcoin,” the report continues.

As a result, its market behavior is increasingly governed by structural liquidity, long-horizon positioning, and regulated access points.

This institutional backbone was clearly visible again this week. Semir Gabeljic, director of capital formation and investment strategy at Pythagoras Investments, highlighted the significant impact of Exchange-Traded Funds (ETFs), citing them as a major tailwind.

“The huge recent capital inflows in Bitcoin ETFs of $1.1 billion last week and even $350 million today alone” are driving the positive trend, Gabeljic noted.

Spencer Yang, a Core Contributor to Fractal Bitcoin, added another perspective on Bitcoin’s ability to shake off the war jitters so quickly.

He argued that, fundamentally, nothing has changed about the asset class itself as a result of the conflict in the Middle East.

The core metrics that long-term investors look to for Bitcoin remain intact. Furthermore, other bullish on-chain signals are potentially on the way.

“We’re seeing continued interest in protocols like BRC-20, especially with the recent upgrade, as well as Runes and Alkanes, which have been getting a lot of attention,” Yang added.

So overall, on‑chain activity across the board is increasing thanks to these types of assets.

The key takeaway seems to be that as Bitcoin’s market becomes increasingly defined by institutional demand and macroeconomic liquidity cycles, its price action is becoming less about knee-jerk reactions to headlines and more about long-term capital commitment.

It is this structural shift that appears to be anchoring Bitcoin firmly above the $100,000 level, despite the surrounding noise.

Tim Draper’s thesis

Adding to this long-term bullish outlook, legendary venture capitalist Tim Draper has argued that the Bitcoin blockchain is becoming the new epicenter for crypto innovation.

In a recent post on the social media platform X, Draper drew a compelling parallel, suggesting that Bitcoin is now absorbing ideas once exclusive to altcoins, much in the same way that Microsoft once consolidated the software revolution under its dominant operating system empire.

Draper pointed to Bitcoin’s rising dominance – a metric equivalent to its “market share” in the crypto world – as evidence.

This figure has risen to over 60%, up from 40% after the 2017 boom-bust cycle and 50% following the 2021 peak, signaling that Bitcoin is reasserting its control over the broader crypto ecosystem.

Much like how Microsoft integrated or cloned early software success stories like Lotus 1-2-3, WordPerfect, and PowerPoint to create its powerful software suite, Draper says Bitcoin is now systematically incorporating innovations that were once the exclusive domain of altcoins.

These include functionalities like smart contracts, decentralized finance (DeFi), ordinals (a form of on-chain digital artifacts), and low-cost layer 2 scaling solutions.

“All the successful innovations on other platforms are now being ported to Bitcoin,” Draper wrote, describing it as an “acceleration” that mirrors the consolidation phases seen in Big Tech.

He argued that developers are increasingly gravitating toward Bitcoin because it is the most secure and valuable blockchain.

Draper, who runs a Bitcoin-focused accelerator with Boost VC, stated that the next generation of entrepreneurs is building on Bitcoin not just for ideological reasons, but because the infrastructure and surrounding ecosystem are now mature and ready for this new wave of development.

“Smart entrepreneurs are always building on the platform with the strongest gravitational pull,” he wrote.

“That platform is Bitcoin.”

• Bitcoin surged past $106K late Monday after Trump announced a “Complete and Total CEASEFIRE” between Iran and Israel.
• The rally marked a sharp reversal from a plunge to $98,500 just 24 hours prior; oil prices tumbled to $65.
• Stablecoin issuer Circle (CRCL) stock hit a record high near $299, up 750% since its IPO this month.

A tumultuous 72 hours of price action in the cryptocurrency market culminated in a sharp rally late Monday, as Bitcoin surged past the $106,000 mark.

The catalyst for this dramatic move was an announcement from US President Donald Trump, who took to his Truth Social platform to proclaim a “complete and total” ceasefire between Iran and Israel, offering a glimmer of de-escalation in the volatile Middle East conflict.

The market’s reaction to President Trump’s announcement was immediate and forceful. “It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now),” Trump wrote, sending a wave of relief through global markets.

Bitcoin, which had already been showing signs of a rebound in afternoon trading, jumped nearly another 3% on the news, decisively topping $106,000.

This represented a remarkable turnaround from just over 24 hours prior, when the leading cryptocurrency had plunged to as low as $98,500 amidst fears of a widening war.

At the time of this report, Bitcoin’s price had slightly pulled back from its peak to around $105,300, but held onto the majority of its gains.

The positive sentiment spilled over into traditional markets as well. US stock index futures posted gains of approximately 0.5% across the board.

The price of crude oil, which had soared to over $75 a barrel earlier in the day on supply disruption fears, tumbled further to just $65 per barrel following the ceasefire news.

The move in some major altcoins was even more pronounced, with Ether (ETH), XRP, and Solana (SOL) among those sporting impressive gains of 8%-10%.

While there was some initial confusion in the minutes following the president’s announcement regarding the validity of the ceasefire agreement, Reuters later reported that a senior Iranian official had confirmed Tehran’s agreement to a proposed ceasefire with Israel, lending credence to the market’s optimistic reaction.

Circle’s meteoric rise

In a parallel and equally dramatic market story, shares of stablecoin issuer Circle (CRCL) continued their explosive rally on Monday, soaring to a fresh record high.

The surge has brought the company’s market capitalization tantalizingly close to that of its flagship token, USDC, and puts it within striking distance of crypto exchange giant Coinbase (COIN).

Shares of Circle were up another 22% at one point on Monday morning, reaching a record high just shy of $299 before relinquishing some of those gains.

The stock ultimately closed at around $263, up a solid 9% for the session.

Since its Initial Public Offering (IPO) earlier this month, which priced at $31 per share, Circle’s stock has appreciated by a staggering 750%.

At its peak on Monday, Circle’s market capitalization reached roughly $60 billion.

This figure is nearly on par with the $61.3 billion supply of its USDC stablecoin, the second-largest dollar-pegged token in circulation.

This valuation also brings the firm remarkably close to that of crypto exchange Coinbase (COIN), which currently has a market capitalization of about $78 billion.

Circle’s phenomenal surge this month is a clear testament to the soaring investor appetite for the fast-growing stablecoin market, a sector of the crypto industry with very few publicly-traded “pure play” investment options.

USDC is widely used across cryptocurrency exchanges and decentralized finance (DeFi) protocols and is gaining increasing popularity for payments and cross-border transactions.

A key catalyst that has helped fuel Circle’s rally was the US Senate’s passage of the so-called GENIUS Act last week.

This legislation, which advances a regulatory framework for the stablecoin asset class, has boosted investor confidence in the long-term viability and growth potential of the sector, which some analysts believe could reach a multi-trillion dollar valuation in the coming years.

Despite the bullish momentum, some analysts are beginning to warn that Circle’s rally may be running ahead of its underlying fundamentals.

A well-known cryptocurrency attorney and XRP advocate, John Deaton, is urging investors to stay bullish on Bitcoin even as it hovers near $106,000. He’s put about 80% of his net worth into BTC at an average price below $25,000. Rather than fret over today’s high sticker, he says the odds favor more gains ahead than losses.

Related Reading

Deaton’s Big Bet

According to Deaton, buying at six figures isn’t too late. He calls today’s price range “more asymmetrical,” meaning the upside is greater than the downside. He’s put 80% of his wealth into Bitcoin. His average entry cost was less than $25,000. Still, he sees room to run even from around $106,000.

Macro Concerns Drive Interest

Based on reports, Deaton worries about soaring national debt in the US and fresh tariffs from US President Donald Trump’s time in office. He flags endless money printing by central banks as a red flag.

I’m not in favor of telling people living paycheck to paycheck (me until 15 years ago) to take out a mortgage on their primary home to buy Bitcoin (I’m not suggesting that that’s what David is recommending either), but I am in the process of selling real estate, and although my… https://t.co/JMB1zgeazW

— John E Deaton (@JohnEDeaton1) June 8, 2025

He says all these moves are chipping away at trust in fiat cash. With only 21 million BTC ever to be mined, Bitcoin can’t be inflated away. That fixed supply, he argues, makes it a solid hedge against a shaky dollar.

Corporate And State Adoption

Institutional demand is also on the rise. MicroStrategy—now called Strategy—holds more than 200,000 BTC, worth tens of billions of dollars. And in the last seven days, 16 companies have added Bitcoin to their balance sheets.

On the government side, Rep. Tim Burchett introduced a bill to turn a Trump executive order into law, creating a US Strategic Bitcoin Reserve. Countries like Pakistan, Ukraine, and Ireland are weighing similar steps. They want to see if holding Bitcoin could protect their foreign exchange plans.

Skeptics Voice Worries

Not everyone agrees with Deaton’s rosy outlook. Economist Peter Schiff, a gold advocate, says Bitcoin has no real value and is too wild to be a safe haven. He tweeted that today’s rally is just hype.

Deaton doesn’t shy away from such criticism. He admits he has “confirmation and wealth-preservation bias.” He still insists Bitcoin is the best store of value during today’s economic storms.

Related Reading

Deaton warns against buying with money you can’t afford to lose. He tells people living paycheck-to-paycheck not to risk their homes or take out loans just to buy crypto.

His basic message is simple: look past daily price swings and ask where the world’s money is headed. If you share his concerns about the dollar and believe institutions will keep piling in, his bet on Bitcoin could pay off. But anyone on the sidelines should be ready for big swings and should only invest what they can handle.

Featured image from Pexels, chart from TradingView

• Bitcoin price surged to $106,000 on Sunday, May 18, achieving its highest weekly close ever.
• The rally saw Bitcoin’s market cap reach $2.11 trillion, liquidating over $44M in short positions.
• Trump’s proposed 5% remittance tax on non-US citizens is seen as a key driver, likely pushing users to crypto.

Bitcoin surged to a new peak over the weekend, reaching $106,000 per coin on Sunday, May 18, marking its highest valuation since early February of this year.

This rally propelled the flagship cryptocurrency’s market capitalization to an impressive $2.11 trillion and triggered significant liquidations in the derivatives market.

The recent price action reportedly culminated in the highest weekly closing price for Bitcoin to date, surpassing a previous benchmark of $104,298.70 set in December of the prior year.

Reports indicated that this surge led to the liquidation of over $44 million in short positions tied to Bitcoin across various derivatives platforms, underscoring the potent buying pressure.

Market observers point to two primary catalysts providing the impetus for Bitcoin’s latest ascent.

A significant factor appears to be a legislative proposal from US President Donald Trump, dubbed the “big, beautiful bill.”

This package of legislative priorities includes a contentious five percent tax on remittances sent by non-US citizens residing in the US to their home countries.

The remittance tax ripple effect: a crypto catalyst?

This proposed remittance tax is projected to affect over 40 million individuals in the US who regularly send portions of their income to support families abroad.

While the measure has faced opposition from countries like Mexico, President Trump’s bill has reportedly advanced, having been cleared by the US House Budget Committee in a late-night vote on Sunday.

Analysts have voiced concerns that this bill could inadvertently drive migrants towards alternative, “unauthorised channels” such as cryptocurrencies to make remittances and circumvent the proposed tax.

Crypto advocacy group Coin Center has noted that self-hosted crypto wallets fall outside the purview of the bill, as they do not meet the definition of remittance-transfer providers.

This potential shift towards crypto for cross-border payments is seen as a bullish driver for Bitcoin.

Regulatory horizon: stablecoin bill sparks optimism

Another significant factor potentially fueling the increased buying interest in Bitcoin is the anticipation of upcoming regulation.

For years, the cryptocurrency industry has advocated for clear regulatory frameworks as a means to formally integrate digital assets into the established financial system.

Now, a US bill specifically designed to regulate stablecoin issuers is slated to be taken up by the US Congress this week.

Republican Senator Bill Hagerty, one of the sponsors of the ‘Guiding and Establishing National Innovation for US Stablecoins (Genius) Act,’ expressed optimism about the legislative progress.

“Next week, the Senate will make history when we debate and pass the Genius Act that establishes the first ever pro-growth regulatory framework for payment stablecoins,” Hagerty was quoted as saying.

According to a report by Coindesk, the bill was reportedly redrafted at the eleventh hour to address concerns raised by Democrats regarding consumer protection and national security elements.

The prospect of clearer rules for stablecoins, a cornerstone of the crypto ecosystem, is likely contributing to broader market confidence.

A year of volatility: navigating economic crosscurrents

Bitcoin’s journey this year has been characterized by extreme price swings.

These fluctuations have occurred amidst broader economic anxieties, including panic over the potential collapse of the US dollar, spurred by President Trump’s imposition of tariffs on China and other nations.

For instance, in April, Bitcoin’s price experienced a sharp downturn, plummeting by 30 percent from its all-time high of nearly $110,000 to around $75,000 per coin, illustrating the asset’s sensitivity to macroeconomic developments and market sentiment.

The current rally above $106,000 marks a significant recovery and a renewed wave of bullish momentum.

Crypto prices today saw major fluctuations as Bitcoin (BTC) hit a new all-time high of $108,000 before retreating below $106,000, showcasing significant volatility in recent trading. Meanwhile, Pudgy Penguins (PENGU), a token launched just yesterday, recorded a remarkable 550% surge within 24 hours, propelling it into the top 100 cryptocurrencies by market cap. Bitget Token (BGB) also experienced a strong uptick, climbing 17% despite a broader market dip.

The overall market cap declined by approximately 1% to $3.71 trillion, while trading volumes fell by 8.6% to $185 billion. The Fear and Greed Index signaled extreme greed, reading 80. So, let’s take a closer look at some of the leading cryptocurrencies by market cap and their price action on December 18.

Crypto Prices Today: Market Tackles Turbulence But Some Alts Soar

The crypto market showed a mixed reaction, with Bitcoin and Ethereum down by 1% to 3%. However, U.S.-based projects like XRP, Stellar (XLM), and Hedera (HBAR) surged by 3% to 6% over the last 24 hours, reflecting positive momentum among select altcoins despite the broader market dip.

Bitcoin Price Today

The Bitcoin (BTC) price dropped by 1% and was trading at $105,368. Its 24-hour low and high were $105,004 and $108,269, respectively. The market cap stood at $2.09 trillion, with $70 billion in trading volume. Its market dominance was recorded at 56.63%.

As per SoSo Value, BTC ETFs saw an outflow of 247 million BTC on Tuesday, with Fidelity leading the outflows at 128 million BTC. Grayscale’s GBTC recorded an 84 million BTC outflow, while data from BlackRock is still awaited.

Ethereum Price Today

Ethereum (ETH) price today was trading at $3,869, marking a 4% drop in the last 24 hours. Its 24-hour low and high were $3,836 and $4,040, respectively. The market cap stood at $466 billion, with $35 billion in trading volume. The market dominance was recorded at 12.67%.

ETH ETFs saw an inflow of approximately 10 million, with Grayscale accounting for 4.45 million of the inflow and Fidelity taking in approximately 4 million. Data from BlackRock is still anticipated.

XRP Price Today

XRP price has risen by 3% in the last 24 hours, trading at $2.55. Its 24-hour low and high were $2.463 and $2.717, respectively. In crypto prices today, XRP’s market cap is $146 billion, with a trading volume of $17 billion, making it the third-largest cryptocurrency by market cap. Additionally, Ripple’s stablecoin RLUSD went live yesterday, marking Ripple’s entry into the stablecoin market.

Solana Price Today

Solana (SOL) price has increased by 2% in the last 24 hours, trading at $218. Its 24-hour low and high were $213 and $228, respectively. Its market cap stands at $104 billion, with a trading volume of $6 billion and a market dominance of 2.85%.

Meme Crypto Prices Today

Meme coins have shown a bearish reaction in the market. Dogecoin (DOGE) is down by approximately 3% and is now trading at $0.39. Shiba Inu (SHIB) has also seen a 4% decline, currently trading at $0.00002609. Other notable meme coins like PEPE, BONK, and WIF have dropped by 2% to 6%. These movements reflect the trend in crypto prices today, as the meme coin market faces a correction amid broader market fluctuations.

Top Crypto Gainer Prices Today

Pudgy Penguins

Pudgy Penguins (PENGU) became the top gainer for today, surging by 550% in the last 24 hours. The price skyrocketed after Binance launched it yesterday. Currently, PENGU is trading at $0.03, with a 24-hour low of $0.02 and a high of $0.06.

Bitget Token

Bitget Token (BGB) continues its strong performance, marking the second consecutive day as a top gainer. Today, it’s up by 17%, currently trading at $4.18. Its 24-hour low and high range between $3.56 and $4.23. The rise in price is attributed to Bitget, the leading cryptocurrency exchange, being granted a license to operate as a Bitcoin service provider by El Salvador’s Central Bank.

Litecoin

Litecoin (LTC) was up by approximately 7% in the last 24 hours and is currently trading at $125. Its 24-hour low and high were $114 and $129. The rise in price is mainly attributed to predictions from Bloomberg analysts that a Litecoin ETF could launch sooner than those for Solana and XRP. As seen in crypto prices today, Litecoin’s growth is notable amid broader market trends.

Top Crypto Loser Prices Today

Lido DAO

Lido DAO (LDO) price was down by 9% and is currently trading at $2.08. Its 24-hour low and high were $2.05 and $2.31, making it the worst performer for today. In crypto prices today, Lido DAO’s decline stands out amidst other market movements.

Aptos

Aptos (APT) price was down by 8% and is now trading at $12.89. Its 24-hour low and high were $12.72 and $14.36. In crypto prices today, Aptos showed a notable decline compared to other assets.

Fantom

Fantom (FTM) was down by 7% and is trading at $1.31. Its 24-hour low and high were $1.297 and $1.43. The market cap stands at $3.67 billion with a 24-hour trading volume of $475 million. Crypto prices today reflect a slight dip for Fantom.

Besides, the hourly chart shows a bearish trend, with Bitcoin down by half a percent, and major altcoins like XRP, Solana (SOL), and Binance Coin (BNB) down by approximately 1% in the last hour. This indicates short-term selling pressure across the market.

✓ Share:

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.