Bitcoin Recovers $105,000... XRP Up 8% [Decenter Market Report]

Bitcoin (BTC) continues its upward trend, recovering the $105,000 level. Expectations that the US federal government shutdown may soon be resolved have supported investor sentiment across risk assets.

According to CoinMarketCap, a global market monitoring site, as of 8:00 AM on the 11th, BTC was trading at $105,598.13, up 1.16% from the previous day. Ethereum (ETH) fell 0.62% to $3,546.32. XRP rose over 8% to $2.52 on expectations of a spot-based exchange-traded fund (ETF) listing. BNB fell slightly, dropping 0.67% to $987.83, and Solana (SOL) rose 0.81% to $166.06.



The domestic market is showing a similar pattern. As of the same time, BTC was trading at 156,786,000 won on Bithumb, up 0.82% from the previous day. ETH was up 0.67% at 5,286,000 won, XRP was up 0.59% at 3,742 won, and SOL was up 0.57% at 247,700 won.

Cryptocurrency-related stocks also rose. Coinbase (COIN) jumped 2.84%, Robinhood (HOOD) rose 4.23%, eToro (ETOR) rose 8.17%, and Gemini (GEMI) rose 4.08%. U.S. stock markets also rebounded, with the S&P 500 up 1.54% and the Nasdaq up 2.27%.

Expectations that the 39-day-long US government shutdown could soon end have fueled market optimism. President Donald Trump's announcement that tariff revenues could lead to a $2,000 per capita "dividend" fueled this optimism. According to prediction market Polymarkets, traders see an 86% chance of the shutdown ending between November 12th and 15th.

David Neige, head of research at digital asset investment firm Arca, predicted that “when the shutdown ends, $150 billion to $200 billion in Treasury General Account (TGA) funds will be released into the market, which will have a short-term liquidity expansion effect.”

However, there are concerns that a prolonged shutdown could delay discussions on the Virtual Asset Market Structure Act and the Senate's digital asset legislation. "If legislation is delayed until the 2026 midterm elections, the core foundations for institutional capital inflow and industrial growth could be shaken," said CEO Naige.

He added that if the shutdown ends in mid-November, it would kill two birds with one stone: liquidity and legislation. But if it extends into December, that opportunity will be lost.

The fear and greed index from virtual asset data analysis company Alternative.me rose 7 points from the previous day to 29, indicating a "fear" level. A reading closer to 0 indicates a weakening of investor sentiment, while a reading closer to 100 indicates overheated markets.

Reporter Do Ye-ri