The global cryptocurrency market kicked off the week on a bullish note as Bitcoin and Ethereum led gains that pushed total market capitalisation above $3.6 trillion on Monday. Investors flooded back into digital assets amid growing optimism that the U.S. government’s shutdown crisis will soon be resolved.
Market sentiment brightened across risk assets, with major stock indices and U.S. futures posting gains while the dollar regained modest strength. Data from CoinMarketCap showed that the total crypto market cap climbed more than 5% within 24 hours, fueled by a wave of buying in large-cap tokens.
Bitcoin gained 4.3% in the past 24 hours, trading around $106,100, with daily trading volumes surpassing $70.25 billion. The world’s largest cryptocurrency rebounded strongly after briefly dipping below the $2 trillion market cap mark last week. Early Monday data placed Bitcoin’s market value at $2.115 trillion.
Ethereum also rallied 6.43% within the same period, trading at $3,609. The rebound trimmed Ethereum’s weekly losses to below 2%, suggesting renewed investor confidence following weeks of volatility driven by concerns over the U.S. Federal Reserve’s policy direction.
Altcoins joined the uptrend, reversing the sell pressure that dominated the previous week. Traders attributed the rebound to easing macroeconomic fears after the U.S. Senate took significant steps toward ending the government shutdown, which had stalled economic data releases for weeks.
Late Sunday night, eight Democrats joined Senate Republicans to advance a House-passed short-term funding bill, sparking optimism across global financial markets and digital assets.
