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

Bitcoin price has risen 4.4% in the past 24 hours, with trading volume soaring to $68.4 billion, and it is trading at $106,507 as of 2:57 a.m. ET.

BTC has returned to above $106,000 for the first time in almost a week amid news that the US Senate has passed the deal. agreement This is to end the 40-day government shutdown, the longest in U.S. history.

🚨🇺🇸Breaking News: Is the 40-day shutdown almost over? Senate strikes deal

Bipartisan senators just struck a deal to restart the government, providing funding through January 30th and planning a December vote on the much-contested ACA bill.

Enough Democrats are on board… pic.twitter.com/zU2M6eeyho

— Mario Nawfal (@MarioNawfal) November 10, 2025

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

Meanwhile, in a flurry of posts on Truth Social on Sunday, President Trump said his administration plans to give Americans at least $2,000 in massive stimulus checks, to be paid for with tariff revenue.

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

Payments would go to all Americans without “high incomes.”

“We have trillions of dollars flowing into our country, and we will soon begin repaying our massive debt,” Trump wrote. “Everyone (except high income earners!) will be paid a dividend of at least $2,000 per person.”

Will the giveaway help Bitcoin prices continue their recovery?

Bitcoin price rebounds from support, eyes on key resistance levels

of BTC price After a downward trend that lasted until late October, it is now on a recovery trend.

After testing a strong support area around the $100,000 to $101,000 range, the bulls regained momentum and pushed Bitcoin above short-term resistance near $105,000.

This renewed buying pressure has pushed Bitcoin above its 50-day simple moving average (SMA) and targeting the next major resistance zone around $110,000 on a 4-hour timeframe, potentially entering a near-term bullish phase. The current surge indicates that Bitcoin price is showing positive momentum.

On the 4-hour chart, BTC price is currently trying to re-enter the consolidation zone between $105,000 and $107,000 where it broke earlier.

A sustained close above this level could open the door to a retest of the 200-period SMA at around $109,960. This region has served as a major supply zone in the past, suggesting that a successful breakout could begin a stronger shift towards a medium-term bull market.

Meanwhile, the Relative Strength Index (RSI) has been rising and is currently at 67, just below the overbought threshold of 70, indicating that Bitcoin price is on strong buying momentum.

The Moving Average Convergence Divergence (MACD) also supports the bullish trend, with the blue MACD line crossing above the orange signal line and the histogram expanding to positive values.

This crossover confirms improving market momentum and supports the idea that Bitcoin will rise.

BTC bulls aim for push to $110,000

If BTC price stays above the 50-day SMA ($104,149) on a 4-hour time frame, the short-term trend is likely to remain bullish. The next target for the bulls lies in the $109,000 to $110,000 resistance zone, which coincides with the 200-day SMA.

Chaikin Money Flow (CMF), which is trading at +0.35, indicates solid capital inflows into the market and supports sentiment. This confirms that buyers are actively supporting Bitcoin’s recent rally and that accumulation is underway, potentially allowing the bulls to drive the price higher.

Conversely, failure to sustain above $104,000 could trigger a short-term pullback towards $101,000. According to popular X analyst Ali Martinez, below $100,980, the next possible support for Bitcoin price is the $93,400 level.

Below $100,980, Bitcoin’s next important support zone $BTC Approximately $93,400. pic.twitter.com/vX4IBWJsJf

— Ali (@ali_charts) November 10, 2025

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