Bitcoin holds above $106,000 as US government shutdown fears ease
Bitcoin is holding steady above $106,000, with Ethereum also at $3,591.
Optimism over the nearing end of the US government shutdown has brought some calm to the markets.
Major altcoins like XRP, Solana, and Dogecoin are up nearly 3%, and the global crypto market cap has climbed to $3.59 trillion.
Bitcoin's resistance range and recent recovery
Political stability and new crypto-friendly regulations are giving investors more confidence right now.
Moves like expanding CFTC oversight of digital assets and letting crypto ETFs earn staking rewards have helped Bitcoin recover from its recent dip below $100K, pushing it closer to the $107K-$111K resistance range.
Futures open interest rises by 5% to $148 billion
Big players ("whales") grabbed over 108,000 Bitcoin last week, while open interest in crypto futures jumped 5% to reach $148 billion.
Even though Bitcoin and Ethereum saw small weekly drops, altcoins surged over 7%.
This bounce shows traders are feeling more optimistic thanks to clearer rules and renewed market momentum.