Cryptocurrencies stabilize as shutdown comes to a close

The steep sell-off that rattled crypto markets on Tuesday has stabilized after the U.S. House narrowly approved a government funding package, easing immediate concerns around the ongoing shutdown.

Lawmakers passed the measure by a 217–214 vote, clearing the way for the government to reopen from its partial shutdown once President Donald Trump signs the legislation. While funding for most federal agencies is now secured, negotiations over the Department of Homeland Security budget will continue over the next 10 days.

The vote helped stem a panic-driven decline in digital assets earlier in the session. Bitcoin slid as low as $72,800—its weakest level since before Trump’s election victory in November 2024—before recovering some ground as the funding news emerged.

Bitcoin was last trading around $74,800, still down about 4.5% over the past 24 hours. Ether fell roughly 7% on the day to near $2,181 and is down approximately 26% over the past week. Other major cryptocurrencies, including XRP and Solana, recorded similar losses.

U.S. equity markets also clawed back from their session lows but remained firmly in the red. The Nasdaq was down about 2%, while the S&P 500 declined roughly 1.3%.

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