US, Nov 11 : Bitcoin maintained its upward momentum on Tuesday, trading at $106,211, up 0.14% in the past 24 hours, while Ethereum reclaimed $3,593, buoyed by optimism over the nearing end of the U.S. government shutdown. The broader crypto market reflected positive sentiment, with the global crypto market capitalization rising 0.47% to $3.59 trillion, according to CoinMarketCap.
Major altcoins also showed strength XRP, Solana, Tron, Dogecoin, and Cardano gained nearly 3%, while BNB and Hyperliquid slipped around 4%.
Whales Accumulate as Confidence Returns
Edul Patel, CEO of Mudrex, said Bitcoin’s current range has become an attractive accumulation zone. “Whales purchased over 108,000 BTC in the past week, while open interest in crypto futures rose 5% to $148 billion in 24 hours showing traders are regaining trust and re-entering the market with leverage,” he noted. Patel added that expectations of softer U.S. CPI data below 3.1% and improving political stability could drive further gains in the coming weeks.
Bitcoin and Ethereum have dipped 0.81% and 1.29%, respectively, over the past week, while several altcoins have surged more than 7%.
Regulatory Momentum Adds to Rally
Riya Sehgal, Research Analyst at Delta Exchange, said the crypto rally is being supported by recent regulatory and policy developments in the U.S. “The Senate’s reopening of the government, the Agriculture Committee’s bipartisan draft giving the CFTC greater oversight of digital commodities, and new IRS guidance allowing crypto ETFs and trusts to earn staking rewards have all strengthened market confidence,” she explained.
Sehgal added, “Whale accumulation and technical patterns indicate market stabilization. If Bitcoin clears the $107K–$111K resistance zone, we could see a sustained uptrend across major digital assets.”
Market Overview
According to the CoinDCX Research Team, crypto markets are in recovery mode. Bitcoin continues to trade above $106,000, Ethereum remains steady above $3,600, and XRP, Litecoin, and Dogecoin are holding key levels. Solana, however, is facing resistance near $170.
“The overall sentiment has improved as the U.S. Senate passes a bill to reopen the government and regulatory clarity grows,” the report added. “With the global market cap crossing $3.6 trillion, the crypto market appears poised for a broader recovery.”