At the start of the week, cryptocurrencies launched a strong recovery. At the time of writing, Bitcoin is trading at $106,150, up about 4% in the past 24 hours. Among major altcoins, capital inflows are also evident: Ethereum has gained nearly 6%, XRP is up 7%, and Zcash surged by an impressive 16%, extending its explosive rally from previous weeks.
Market optimism was largely fueled by the end of the U.S. government shutdown on November 9, which brought relief to global financial markets. Risk assets — including stocks and cryptocurrencies — responded with strong gains. Analysts interpret this as a signal of restored regulatory activity in the U.S., especially in light of ongoing crypto ETF approval processes. According to Kaiko Research, the correlation between crypto assets and the Nasdaq index rose to +0.70 over the past week, highlighting increased macroeconomic influence.
Another catalyst was Donald Trump’s new economic initiative — a proposal for a “Tariff Dividend” of $2,000 per person. In a post on TruthSocial, Trump stated:
“I’m urging Senate Republicans to redirect the hundreds of billions of dollars currently flowing to greedy insurance companies propping up the failed ObamaCare system directly to citizens — so they can buy better healthcare and still have money left over.”
Expectations of new government spending pushed gold up by 1.5% and strengthened the correlation between precious metals and cryptocurrencies to +0.81.
Analysts interpret this as growing expectations of a looser fiscal policy and potential dollar weakness. However, prediction markets estimate the actual likelihood of the “Tariff Dividend” being implemented at only 23%.