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The price of Bitcoin has surged 4.4% over the past 24 hours, trading at $106,507 as of 2:57 a.m. ET, with trading volume soaring to $68.4 billion.
Following news that the US Senate had reached the amount, BTC recovered to levels above $106,000 for the first time in almost a week. agreement To end the 40-day government shutdown, the longest in U.S. history.
🚨🇺🇸 Breaking News: Will the 40-day shutdown end soon? Senate closes deal
Senators from both parties have struck a deal to get the government back in operation, funded through Jan. 30 and ready for a December vote on the much-debated ACA bill.
There are enough Democrats involved… https://t.co/7FO4U2W07R pic.twitter.com/zU2M6eeyho
— Navy Navy (Meral) November 10, 2025
As a result, the cryptocurrency market rose 4%, reaching a market capitalization of $3.68 trillion.
Meanwhile, in numerous posts on Truth Social on Sunday, President Trump announced that his administration plans to provide at least $2,000 to Americans in a massive stimulus package that would be funded by tariff revenue.
He frames it as a reward for what he portrays as the country’s economic strength under his leadership.
These payments would go to all Americans without “high incomes.”
“We are receiving trillions of dollars and will soon begin paying off our massive debt,” Trump wrote. “A dividend of at least $2,000 per person (excluding high earners!) will be paid to everyone.”
Could a giveaway help Bitcoin prices continue to recover?
Bitcoin price is bouncing off support and keeping an eye on key resistance levels.
that BTC price It continued to decline until the end of October, but is now showing signs of recovery.
After testing a strong support zone near the $100,000-$101,000 range, the bulls gained momentum again, pushing Bitcoin back above the short-term resistance around $105,000.
This new buying pressure puts BTC in a potential near-term bullish phase as it trades above its 50-day simple moving average (SMA) and targets the next major resistance area near $110,000 for the next four hours. The current surge shows that the Bitcoin price is experiencing positive momentum.
On the 4-hour chart, BTC price is currently attempting to re-enter the consolidation zone between $105,000 and $107,000 that it previously broke into.
A sustained close above this level could open the door to a retest of the 200-day SMA at around $109,960. This region has served as a key supply area in the past, suggesting a successful breakout could initiate a stronger transition to medium-term bullish conditions.
Meanwhile, the Relative Strength Index (RSI) is currently rising to 67, just below the overbought threshold of 70, indicating that Bitcoin price is receiving strong buying momentum.
Moving Average Convergence Divergence (MACD) also supports a bullish trend, with the blue MACD line crossing above the orange signal line and the histogram expanding to positive values.
This crossover confirms improving market momentum and supports the idea that Bitcoin is poised to move higher.
BTC Bulls Target $110,000
If BTC price remains above the 4-hours 50-day SMA ($104,149), the short-term trend is likely to remain bullish. The bulls’ next target is the $109,000-$110,000 resistance zone, which is in line with the 200-day SMA.
Chaikin Money Flow (CMF) at +0.35 supports this sentiment and indicates solid capital inflows into the market. This confirms that accumulation is underway, with buyers actively supporting the recent Bitcoin rally, which could push the price higher.
Conversely, if it fails to maintain above $104,000, it may fall to $101,000 in the short term. According to renowned X analyst Ali Martinez, below 100,980, the next possible support for Bitcoin price is the $93,400 level.
Below $100,980, Bitcoin’s Next Major Support Area $BTC The price is approximately $93,400. pic.twitter.com/vX4IBWJsJf
— Ali (@ali_charts) November 10, 2025
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