Crypto Market Gains $150 Billion as US Senate Breaks Deadlock

The crypto market experienced relief on November 10, as economic expectations in the US provided a temporary respite from recent selloffs.

• CryptoQuant CEO Ki Young Ju noted significant Bitcoin (BTC) whale sell-offs since BTC reached $100,000, indicating ongoing selling pressure.
• Despite predictions of an end to the bull cycle, substantial investments from treasury companies kept the market buoyant.
• The market cap increased by approximately $150 billion after the US Senate vote helped break a government shutdown deadlock.
• Bitcoin rose above $100,000, moving past "extreme fear" conditions.
• The overall macroeconomic sentiment remains strong, despite a slight decline in the crypto market cap to $3.54 trillion and a Bitcoin adjustment to $105,000.
• A Polymarket poll indicates a 96% chance of the US government resuming operations between November 12 and 15.

While positive macroeconomic factors exist, investing in cryptocurrencies remains risky due to their volatility.