? Weekly Cryptocurrency Market Highlights: Government Shutdown Ends and Major Currencies Rally

? Bitcoin (BTC) and Ethereum (ETH) Price Trends

Bitcoin fell to around $100,000 last week, but then rebounded strongly and is now holding around $103,000.

This rebound suggests that the support level from the price range in late June this year has been functioning effectively. On the other hand, a cautionary note is warranted as the price remains below the 200-day moving average, indicating bearish signals.

For Ethereum, there was a rebound above the psychological threshold of $3,000, and it is currently trading near $3,500.

Ethereum has clearly moved above the 200-day moving average due to this rebound, signaling a bullish mood compared with Bitcoin.

? U.S. Government Funding Extension Agreement and Broad Rally in the Crypto Market

Last weekend, the crypto market broadly rose on the backdrop of an agreement in the U.S. Senate to extend government funding. This ends a seven-week shutdown of federal agencies and brought relief to the market.

Weekly performance of major currencies (as of last weekend)

Performance by Sector

DeFi: +5.35% (e.g., $UNI +12.03%, $AERO +14.58%)

RWA (Real World Assets): +5.16%

With this rebound, BTC, which had fallen below $100,000 in early November to a five-month low, has returned to a recovery trend after the decline.

Impact of the End of U.S. Government Shutdown

Last week, U.S. Treasury Secretary Janet Yellen clearly stated that the economy is being adversely affected by continued government shutdowns, drawing heightened attention to related markets and policy developments.

According to POLITICO, a bipartisan agreement in the U.S. Senate is expected to reopen government agencies.

Main contents of the agreement:

Annual budgets secured for Agriculture, Veterans, Military facilities, and Congress sectors.

Budgets for other government agencies extended until January 30, 2026.

All federal employees on temporary layoff will be recalled, and back pay for the layoff period will be paid.

【Market Implications】

The end of the government shutdown that continued since October 1 could accelerate the review of crypto ETFs and related crypto legislation, and regulatory deliberations that had been stalled may advance. Market liquidity expectations are rising as well.

? Views from notable investors and industry insiders and market topics

? Welfare Payments, Inflation, and Bitcoin

From past examples, the question arises: Will Trump-era stimulus boost Bitcoin again?

Example from the 2020 CARES Act stimulus ($1,200 for adults):

If that money had been used to buy BTC, it would have grown from $1,200 to about $12,000.

Coinbase and Binance saw an explosive rise in purchases of “$1,200 worth of BTC.”

In just 6 weeks, BTC rose by +50%, followed by the greatest bull market in history.

BTC: $3,850 → $69,000, ETH: $120 → $4,800, Market cap: $1.8 trillion → over $3 trillion.

Implication: This suggests that currency inflation from stimulus funds has, in effect, pushed up the value of financial assets (especially supply-constrained cryptocurrencies). With further inflation anticipated from the current stimulus, attention turns to how Americans will respond.

? Ethereum Scaling Performance Reaches Record High

The Ethereum ecosystem is achieving dramatically efficient scaling (increased throughput). User metrics have reached record highs.

Maximum throughput (TPS) is about six times the average, processing around 40 million transactions per day.

This indicates the overall Ethereum ecosystem, including Layer 2s, has significantly increased its capacity.

? Gold and Bitcoin: Arthur Hayes' Perspective

Arthur Hayes, co-founder of BitMEX, shares views on gold versus Bitcoin.

Sovereign states still favor gold as a safe asset.

Individual investors prefer Bitcoin due to high volatility and self-management.

Riyadh-China yuan-denominated crude trades are geopolitical shifts weakening dollar hegemony, which is seen as supporting Bitcoin's long-term value.

In the short term, state purchases of gold may be a factor that differentiates gold and Bitcoin performance.

Discussion: Investors seem to prefer Bitcoin for its upside potential (returns). Its ease of storage as a digital asset and strong affinity with Millennials and later generations also bolster Bitcoin's appeal. Bitcoin's rising status is seen as parallel to the broader societal adoption and valuation of blockchain technology.

Near-term price outlook: Bitcoin, currently around 16 million JPY, is expected to rise to between 25 million and 30 million JPY.

? Buy When a Crash Comes: Investment Philosophy of Robert Kiyosaki

Best-selling author Robert Kiyosaki reiterates the stance of buying rather than selling when a crash arrives.

Lesson: He argues for following Greed's Law (the bad money drives out the good) and Metcalfe's Law.

Warning: The U.S. Treasury and the Federal Reserve are creating counterfeit currency, and savers are warned that they are losing out.

Conclusion: He states, "That is why I continue to buy gold, silver, Bitcoin, and Ethereum even during crashes."

Focus: It is very interesting that Ethereum has been newly added to his portfolio based on previous statements.

? Tether Gold (XAUT) drawing attention in the RWA sector

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Cryptocurrency Market Analysis [November 11]