Good Morning, Asia. Here’s what’s making news in the markets:
Welcome to Asia Morning Briefing, your daily summary of top stories during U.S. hours, along with an overview of market moves and analysis. For a detailed look at U.S. markets, be sure to check out CoinDesk’s Crypto Daybook Americas.
**Crypto Market Update**
BTC and ETH rebounded overnight as traders bet that the U.S. government shutdown will soon end. This optimism lifted risk sentiment after a volatile week. Bitcoin rose 4.2% to $106,269, while Ethereum gained 7.4% to $3,643, according to CoinDesk market data. Both cryptocurrencies recouped some of last week’s losses as macro uncertainty eased and liquidity returned to major assets.
On Polymarket, the odds of the government reopening on November 12 surged after Senate negotiators reached a bipartisan deal late Sunday. The agreement funds the government through January 30, reverses recent federal layoffs, and guarantees a December vote on extending Affordable Care Act tax credits—provisions that secured at least eight Democratic votes in favor.
This marks one of the sharpest sentiment reversals of the year. Just 24 hours earlier, traders saw a 63% chance the shutdown would drag beyond November 16 and into Thanksgiving. Now that President Trump has told reporters, “we’re getting close to the shutdown ending,” markets are treating a resolution by mid-week as all but certain.
**Current Impacts**
Air travel and welfare programs remain disrupted in the meantime. The FAA has ordered a 4% reduction in flights, causing thousands of cancellations, and the USDA has halted food-stamp payments. But with Washington finally nearing a deal, both equities and crypto are signaling relief after weeks of paralysis.
**Lingering Concerns for Crypto**
Even though the U.S. government looks to be on the verge of reopening, some uncertainties still impact crypto traders. For example, skepticism remains around whether the SEC will have time to approve a Cardano (ADA) ETF before the end of the year. Just a month ago, the chances of an ADA ETF becoming reality by the end of 2025 were at 90%, according to CoinDesk. Now, that probability has dropped to 38%.
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### Market Movement
**BTC:** Bitcoin climbed 4.2% to $106,269 as traders priced in a U.S. government funding deal and bet that risk sentiment would recover once the 40-day shutdown ends.
**ETH:** Ethereum jumped 7.4% to $3,643, outperforming majors as easing macro uncertainty and renewed liquidity fueled short-covering and rotation into high-beta crypto assets.
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Stay tuned for further updates as more news breaks and markets evolve.
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*This concludes today’s Asia Morning Briefing.*
https://bitcoinethereumnews.com/bitcoin/bitcoin-rebounds-as-polymarket-traders-bet-u-s-shutdown-will-end-within-days/
