The gains also came after Trump proposed a $2,000 payout to Americans.
The cryptocurrency market edged up slightly on Monday following President Donald Trump’s $2,000 payout proposal and signs of progress toward ending the U.S. government shutdown, which is now the longest in history.
Bitcoin (BTC) inched up 1.7% over the past 24 hours to $105,351, while Ethereum (ETH) rose 0.3% to $3,526. Among altcoins, XRP surged 9.8% to $2.54, while Solana (SOL) added 2.8% to $166.67.
BNB bucked the trend, dropping 1.2% on the day to $982.36.
BTC Market Cap ChartThe day’s top gainers included World Liberty Financial (WLFI), which jumped 26%. A second Trump-affiliated coin, Official Trump (TRUMP), climbed 14.2%, while Provenance Blockchain (HASH) rose 11%.
Canton Network (CC) led the losses, dropping 12.3% to $0.1142, followed by Internet Computer (ICP), down 10.1% to $6.78, and Zcash (ZEC), which slipped 9.7% to $585.65 on $2.87 billion in volume.
The global cryptocurrency market capitalization is up 1.7% over the past 24 hours to $3.64 trillion, with Bitcoin dominance at 57.7% and Ethereum dominance at 11.7%.
Liquidations and Market Flows
Around $356 million in crypto positions were liquidated over the past 24 hours, according to Coinglass. Long positions accounted for about $157 million, while shorts made up $199 million.
Bitcoin led the liquidations with nearly $115 million, Ethereum followed with $84 million, and altcoins contributed over $23.8 million.
Spot Bitcoin ETFs recorded $558.44 million in outflows on Friday, while Ethereum ETFs experienced $46 million in outflows, according to SoSoValue. SOL ETFs, on the other hand, recorded $12.69 million in inflows.
CoinShares Report
Digital asset investment products recorded a second consecutive week of outflows, totaling $1.17 billion, CoinShares said in its latest report. This came amid lingering volatility from last week’s liquidity cascade and uncertainty over a U.S. interest rate cut.
Bitcoin and Ethereum were the hardest hit, recording $932 million and $438 million in outflows, respectively.
Meanwhile, altcoins showed resilience, led by Solana, which attracted $118 million in inflows last week and $2.1 billion over the past nine weeks.
Trump’s ‘Tariff Dividend’
Investor sentiment was also boosted by President Donald Trump’s promise to give $2,000 to every American – excluding “wealthy” individuals – using money from U.S. tariffs. Experts saw it as a boost for people’s spending power, similar to the stimulus checks during the pandemic, which helped to lift confidence.
Meanwhile, on Sunday, the Senate took a major step toward ending the government shutdown, voting to advance a funding deal that would reopen agencies and restore pay for federal workers.
Source: https://thedefiant.io/news/markets/bitcoin-hovers-around-usd105-000-as-government-shutdown-progress-lifts-markets
