Bitcoin Price Jumps 4.4% As Trump Pledges $2k Stimulus Checks

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The Bitcoin price jumped 4.4% over the past 24 hours to trade at $106,507 as of 2:57 a.m. EST on trading volume that soared to $68.4 billion.

BTC reclaimed a level above $106,000 for the first time in nearly a week amid news that the US Senate had reached an agreement to end the 40-day government shutdown, the longest in US history.

🚨🇺🇸 BREAKING: 40-DAY SHUTDOWN ABOUT TO END? SENATE SEALS A DEAL

The bipartisan Senate crew just sealed a deal to crank the government back on, funding it through January 30 and lining up a December vote on that ACA bill everyone’s fighting over.

Enough Dems are on board to… https://t.co/7FO4U2W07R pic.twitter.com/zU2M6eeyho

— Mario Nawfal (@MarioNawfal) November 10, 2025

As a result, the cryptocurrency market rose 4% to reach a market capitalization of $3.68 trillion.

Meanwhile, in a flurry of posts on Truth Social on Sunday, President Trump said that his administration plans to give at least $2,000 to Americans in a giant stimulus that he said would be paid for by income from tariffs.

He frames it as a reward for what he described as the nation’s economic strength under his leadership.

Bitcoin Price

The payments will be made to all Americans that don’t have ”high incomes.”

“We are taking in trillions of dollars and will soon begin paying down our enormous debt,” Trump wrote. “A dividend of at least $2,000 a person (not including high-income people!) will be paid to everyone.”

Can the giveaways help the Bitcoin price continue to recover?

Bitcoin Price Rebounds From Support, Eyeing Key Resistance Levels

The BTC price has been recovering following a sustained downtrend through late October.

After testing a strong support area near the $100,000–$101,000 range, bulls have regained momentum, driving Bitcoin back above the short-term resistance at around $105,000.

This renewed buying pressure has placed BTC in a potential short-term bullish phase, as it trades above its 50-day Simple Moving Average (SMA) and targets the next key resistance zone near $110,000 on the 4-hour timeframe. The current surge shows that Bitcoin’s price is experiencing positive momentum.

On the 4-hour chart, the price of BTC 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 approximately $109,960. This area has served as a major supply zone in the past, suggesting that a successful breakout could initiate a stronger shift toward medium-term bullish conditions.

Meanwhile, the Relative Strength Index (RSI) is moving up, currently at 67, just below the overbought threshold of 70, which indicates the price of Bitcoin is under strong buying momentum.

The Moving Average Convergence Divergence (MACD) also supports a bullish trend, with the blue MACD line crossing above 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.

Bitcoin Price Chart Analysis Source: GeckoTerminal — BTC/USD Chart Analysis Source: GeckoTerminal

BTC Bulls Target A Push Toward $110,000

If the BTC price holds above the 50-day SMA ($104,149) on the 4-hour timeframe, the short-term trend will likely remain bullish. The next target for bulls lies at 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 thus sentiment, indicating solid capital inflows into the market. This confirms that accumulation is underway, with buyers actively supporting the recent Bitcoin rebound, and could allow the bulls to propel the price even higher.

Conversely, failure to hold above $104,000 may trigger a short-term pullback toward $101,000. Below 100,980, the next possible support for the price of Bitcoin is at the $93,400 level, according to popular X analyst, Ali Martinez.