Bitcoin price rose 4.4% over the past 24 hours, trading at $106,507 at 2:57 a.m. EST as trading volume rose to $68.4 billion.
BTC has regained levels above $106,000 for the first time in almost a week, amid news that the US Senate had reached a level. agreement to end the forty-day government shutdown, the longest in American history.
🚨🇺🇸 BREAKING: 40 DAY SHUTDOWN almost over? SENATE MAKES A DEAL
The bipartisan Senate team just struck a deal to get the government going again, fund it through January 30, and set up a December vote on that ACA bill everyone is fighting over.
There are enough Democrats on board to… https://t.co/7FO4U2W07R pic.twitter.com/zU2M6eeyho
— The Navy (Meral) November 10, 2025
As a result, the cryptocurrency market rose 4% to reach a market capitalization of $3.68 trillion.
Meanwhile, President Trump said in a flurry of posts on Truth Social on Sunday that his administration plans to give at least $2,000 to Americans in a massive stimulus that he said would be paid for by revenue from tariffs.
He sees it as a reward for what he described as the economic strength of the country under his leadership.
The payments will be made to all Americans who do not have “high incomes.”
“We are raising trillions of dollars and will soon begin paying off our massive debt,” Trump wrote. “A dividend of at least $2,000 per person (not including high-income earners!) will be paid to everyone.”
Can the Giveaways Help Bitcoin Price Continue to Recover?
Bitcoin price recovers from support, keeping an eye on key resistance levels
The BTC price recovers after a sustained downward trend until the end of October.
After testing a strong support area near $100,000-$101,000, bulls have regained momentum, pushing Bitcoin back above short-term resistance around $105,000.
This renewed buying pressure has put 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 zone near $110,000 within a four-hour time frame. The current rise shows that Bitcoin’s price is experiencing positive momentum.
On the 4-hour chart, BTC price is currently attempting to re-enter a previously broken consolidation zone between $105,000 and $107,000.
A sustained close above this level could open the door for a retest of the 200-period SMA at around $109,960. This area has served as a key supply zone in the past, suggesting that a successful breakout could initiate a stronger shift toward bullish conditions in the medium term.
Meanwhile, the Relative Strength Index (RSI), currently at 67, is rising just below the overbought threshold of 70, indicating that Bitcoin’s price is in strong buying momentum.
The Moving Average Convergence Divergence (MACD) also supports a bullish trend, with the blue MACD line crossing the orange signal line and the histogram expanding to positive values.
This crossover confirms the improving market momentum and supports the idea that Bitcoin will move higher.
BTC Bulls Aim for a Boost Toward $110,000
If the BTC price remains above the 50-day SMA ($104,149) within a 4-hour time frame, the short-term trend is likely to remain bullish. The next target for bulls lies in the $109,000-$110,000 resistance zone, which aligns with the 200-day SMA.
The Chaikin Money Flow (CMF), which stands at +0.35, supports this sentiment, indicating solid capital inflows into the market. This confirms that accumulation is underway, with buyers actively supporting the recent Bitcoin upswing, and could give the bulls the opportunity to push the price even higher.
Conversely, not holding above $104,000 could lead to a short-term pullback towards $101,000. Below 100,980, the next possible support for Bitcoin’s price lies at the $93,400 level, according to popular X analyst Ali Martinez.
Below $100,980, the next major support zone for Bitcoin has arrived $BTC sits around $93,400. pic.twitter.com/vX4IBWJsJf
— Ali (@ali_charts) November 10, 2025
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