Crypto stabilizes as U.S. government shutdown ends

The steep sell-off in cryptocurrencies eased on Tuesday after the U.S. House narrowly approved a funding package, sending the legislation to President Donald Trump’s desk and effectively ending the partial government shutdown.

The House passed the bill by a slim 217–214 margin, clearing the way for the government to reopen once the president signs it. While lawmakers will continue negotiations over funding for the Department of Homeland Security in the coming days, most major federal agencies will remain funded.

The development helped pause a panic-driven rout in crypto markets earlier in the session. Bitcoin briefly slid to around $72,800—its lowest level since before Trump’s election victory in November 2024—before stabilizing. At roughly $74,800, bitcoin was still down about 4.5% over the past 24 hours.

Ether traded near $2,181, down 7% on the day and roughly 26% over the past week. Other major tokens, including XRP and Solana, recorded similar losses.

U.S. equities also rebounded from their intraday lows but remained sharply lower overall, with the Nasdaq down around 2% and the S&P 500 lower by about 1.3%.

Sources: Stephen Alpher and Nikhilesh De